As a recap, the company entered into a sale and purchase agreement on Nov 29, 2024 for the disposal of 93,674 shares or 51% of issued and paid-up share capital of Axis-Tec to Yanmade Electronic.
Ellipsiz has reported earnings of $2.98 million in the 1HFY2025 ended Dec 31, 2024, a reversal from its loss of $1.95 million in the same period a year ago, due to the gain on disposal of its 51% stake in Axis-Tec.
The group says that the results of the discontinued operations for the 1HFY2025 and 1HFY2024 were not comparable, as a result of the gain on disposal net of related expenses. In contrast, 1HFY2024 recorded results of both subsidiaries for the full six months period.
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