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Azeus Systems sinks into a 1H17 loss of HK$10 mil due to forex losses

Benjamin Cher
Benjamin Cher11/14/2016 07:16 PM GMT+08  • 1 min read
Azeus Systems sinks into a 1H17 loss of HK$10 mil due to forex losses
SINGAPORE (Nov 14): Azeus Systems reported a 1H17 loss of HK$9.9 million ($1.8 million) due to forex translation losses and the one-off legal fee compensation of HK$8.8 million a year ago.
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SINGAPORE (Nov 14): Azeus Systems reported a 1H17 loss of HK$9.9 million ($1.8 million) due to forex translation losses and the one-off legal fee compensation of HK$8.8 million a year ago.

Revenue for 1H17 rose 5.9% to HK$48.3 million, with IT services (35.1% revenue contribution) driving the increase, surging 64% from higher fees due to more contracts completed.

This was offset by the 15.8% decrease in revenue from maintenance and support services (56.1% revenue contribution) due to a major maintenance contract ending at the beginning of the financial year.

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