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Ace Achieve Infocom's full-year profit down 75%

ACE Achieve Infocom said on Wednesday its full-year net profit fell around 75 per cent year-on-year to 4.47 million yuan (S$0.89 million).

Revenue was about 33 per cent lower at 184.81 million yuan in FY18 as the Beijing-headquartered telecommunications company faced a "slow-down and intense market competition in the 4G business investment environment", which resulted in weaker revenue and slimmer margins.

In particular, revenue from the ICT system integration division slumped by over 31 per cent year-on-year to 114.93 million yuan. Earnings per share for the financial year ended Apr 3, 2018 worked out to 0.59 yuan, down from 2.38 yuan a year ago.

sentifi.com

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