corporate and business update

DeClout expects to return to profitability in FY18

SINGAPORE (Mar 5): DeClout expects to reduce its losses over the course of the year and return to profitability in FY18 given there should be no further losses from Corous360 after restructuring, the absence of major impairments and exceptional items and further reductions in expenses.

Overall, subsidiaries Beaqon, vCargo Cloud and Procurri are also expected to perform better.

The guidance comes after DeClout incurred its first net loss for FY17 of $16.4 million since it listed. This is compared to earnings of $7.8 million in FY16.

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