Aztech sinks into the red in Q4

Diversified electronics-based Aztech Group has sunk into the red, with a net loss of S$12.4 million for the quarter ended Dec 31, 2015, compared to a net profit of S$280,000 a year ago.

Full year loss was about S$20 million, which included an impairment provision charge of S$19.2 million and unrealised mark-to-market losses of S$1.7 million on derivative instruments. In 2014, its net profit was S$5.8 million.

Revenue for the quarter slipped 4.8 per cent to S$73.6 million, from S$77.3 million a year ago. For the year, revenue fell 3.2 per cent to S$318.9 million.

Aztech expects a "challenging business environment" in 2016.