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Article: AUST CO SP TELEMEDIA MAKES YEAR LOSS BUT SEES PROFIT IN FY09.(Financial report)
- Article from:
- AsiaPulse News
- Article date:
- September 23, 2008
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SYDNEY, Sept 23 Asia Pulse - Telecommunications provider SP Telemedia Ltd (ASX:SOT) has reported a full year loss for fiscal 2008, but says a restructuring of the business will lead to a return to profit in fiscal 2009.
SP Telemedia today reported a continuing operations net loss for the year ended July 31 of $A18.93 million ($US15.96 million), compared to a profit of $5.96 million the previous year.
Revenue from continuing operations rose five per cent to .45 million.
The company said it had lost $35 million during fiscal 2008 on uncollectible revenues, previously capitalised but now written-off commissions, and costs associated with the ...