Revenue for the period was 6.9% higher y-o-y at $141.7 million from $132.5 million last year. The increase was driven by higher contributions from the Government, Transport and Utility (GTU), as well as Enterprise sectors.
Nera Telecommunications (NeraTel) announced that its FY2023 ended Dec 31, 2023, earnings came in at $5.5 million, reversing from a loss of $7.3 million a year ago.
The FY2023 earnings was achieved on the back of higher revenue with gross profit margin of 22.0%, reflecting its shift towards better quality of projects secured. The bottom-line was also lifted by the net gain from the disposal of its Singapore property, narrower forex losses and deferred tax assets adjustment that arose from deductible temporary differences and unused tax losses.
