Aztech returns to profitability in Q3
AZTECH Group moved from a net-loss to a net-profit position for its fiscal third quarter - a performance it attributed to an improved gross profit margin, while maintaining comparable total operating expenses.
The group yesterday reported a net profit of $2.4 million for the quarter ended Sept 30, 2013, compared to a net loss of $2.3 million the year before.
Its gross profit margin came in at 13.6 per cent for the quarter, against 5.1 per cent the year before. The increase was due mainly to sustained improvement in product mix offering, operational efficiency and sourcing strategy, it said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama