Azeus Systems issues revenue, profit warning on lower sales, higher expenses

SINGAPORE - The board of Azeus Systems Holdings warned that the group is expected to report a significant fall in revenue and net profit for the six months ended Sept 30.

In line with the profit warning, Azeus' financial results for the full year ending March 31 2015 is similarly expected to decrease year-on-year.

The poorer performance is primarily attributable to:

* Fewer contracts secured in the first half year, and

* Higher expenses for its cloud-based offering, Anywhere Pad.

Azeus said that the group's overall fundamentals are still strong strong and business outlook and prospects remain sound.

Notwithstanding the decrease in revenue, it continues to invest in its human capital as it expands into new markets and introduces new products.

Further details will be made public on Nov 14 when it is expected to post its half year results.