[ PROFIT GUIDANCE released 10 Oct 2016 :
Following a preliminary review of its unaudited financial results, the Board of Directors (the “Board”) of Azeus Systems Holdings Ltd. (the “Company”, together with its subsidiaries, the “Group”) wishes to advise its shareholders that the Group is expected to report a net loss for the financial period ended 30 September 2016 (“1H FY2017”) and financial year ended 31 March 2017 (“FY2017”).
The loss is mainly attributable to:
- Higher expenditure relating to the Group’s continued commitment in building up our capacity, as well as aggressive and material investments made in the Group’s Products business to boost its growth.
- Lower revenues mainly due to fewer IT services projects secured in the current and previous financial years, in light of the lower number of IT services tenders available for bidding compared to previous years.
Further details of the Group’s financial performance will be disclosed when the Company announces its unaudited consolidated financial results for the Group for 1H FY2017 on or before 14 November 2016.
Shareholders and investors are advised to exercise caution when dealing in the shares of the Company. Persons who are in doubt as to the action they should take should consult their stockbroker, bank manager, solicitor, accountant or other professional advisers.]
At the moment this IT stock is trading at almost net cash (11.3m+ vs a Mcap of 12m) and with no debt it is a pretty safe investment. Question is at what price will it be cheap, considering gov in Hongkong is changing as China tries to muscle in and there is much uncertainty with policies as well as gov spending on IT going forward...
[author is not vested in this company]
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