Neo Telemedia Limited Reports 2023 Loss of HK$2.05 Billion Amid Revenue Decline to HK$479.45 Million

Reuters
Jun 23
Neo Telemedia Limited Reports 2023 Loss of HK$2.05 Billion Amid Revenue Decline to HK$479.45 Million

Neo Telemedia Limited has announced its audited consolidated results for the year ended 31 December 2023. The company reported a significant decrease in revenue, with figures dropping from HK$532.4 million in 2022 to HK$479.5 million in 2023. The loss for the year was HK$2.1 billion, a substantial increase compared to a loss of HK$151.1 million in the previous year. Segment revenues comprised HK$436.3 million from the provision of data centre services, down from HK$484.4 million in 2022, and HK$43.2 million from other segments. Segment results showed a loss of HK$2.3 billion in the data centre services segment, compared to a loss of HK$241.5 million in 2022, while other segments reported a profit of HK$18.2 million. Other income and gains amounted to HK$8.5 million, and unallocated corporate expenses were HK$21.0 million. The company's loss before tax was HK$2.3 billion, compared to a profit of HK$25.7 million in the previous year. Income tax contributed HK$222.7 million, contrasting with an expense of HK$176.8 million in 2022. Neo Telemedia Limited's business activities include trading telecommunication products, providing system integration services, and leasing properties. The company did not provide specific guidance or outlook for future periods in the announcement.

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