Creative Technology reports smaller y-o-y loss of US$6.1 million for 2HFY2023

Creative Technology has reported a net loss for the 2HFY2023 ended June 30 of US$6.1 million ($8.28 million), a smaller loss compared to the US$12.2 million in the 2HFY2022.

This smaller margin of losses is due to a reduction in operating expenses, following the restructuring exercise in December 2022 to restructure the group’s operations and reduce costs to be in line with the lower level of business activities.