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Azeus Systems reports strong operational results

Published on May 27, 2014 9:24 PM

SINGAPORE - Azeus Systems Holdings said its net profit fell by 40 per cent to HK$18.6 million (S$3 million).

This was despite sales rising by 46 per cent to HK$170 million for the year ended March 31.

The discrepancy was due to a compensation award received for an arbitration case in the previous financial year of HK$40.9 million.

Excluding the one-off arbitration award and its related legal cost recorded last year, the group would have reported a 104.3 per cent jump in its net profit.

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