DeClout Limited announced unaudited group earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported revenues of SGD 69,622,000 compared to SGD 91,187,000 a year ago. Loss before tax was SGD 8,890,000 compared to profit of SGD 11,876,000 a year ago. Loss net of tax was SGD 8,897,000 compared to profit of SGD 11,381,000 a year ago. Loss net of tax attributable to owners of the company was SGD 7,801,000 compared to profit of SGD 10,810,000 a year ago. Net cash flows generated from operating activities was SGD 14,510,000 compared to SGD 11,622,000 a year ago. Purchase of property, plant and equipment was SGD 2,194,000 compared to SGD 3,553,000 a year ago. Loss per basic and diluted share was 1.20 cents compared to profit of 1.64 cents per diluted share a year ago. Additions to intangible assets were SGD 836,000 against SGD 248,000 a year ago.

For the year, the company reported revenues of SGD 273,485,000 compared to SGD 304,022,000 a year ago. Loss before tax was SGD 17,919,000 compared to profit of SGD 11,686,000 a year ago. Loss net of tax was SGD 20,500,000 compared to profit of SGD 9,507,000 a year ago. Loss net of tax attributable to owners of the company was SGD 16,448,000 compared to profit of SGD 7,758,000 a year ago. Net cash flows generated from operating activities was SGD 14,565,000 compared to net cash used in operating activities of SGD 11,769,000 a year ago. Purchase of property, plant and equipment was SGD 8,076,000 compared to SGD 12,386,000 a year ago. EBITDA was SGD 2,178,000 compared to SGD 26,863,000 a year ago. Additions to intangible assets were SGD 836,000 against SGD 248,000 a year ago. Loss per basic and diluted share was 2.53 cents compared to profit of 1.18 cents per diluted share a year ago.

For the quarter, the company reported plant and equipment written off of SGD 518,000 against SGD 92,000 a year ago. Impairment loss on intangibles was SGD 5,782,000.

Barring any unforeseen circumstances, the Group does not expect further significant losses from Corous360 post-restructuring and in the absence of major impairments and exceptional items, the Group expects to reduce its losses over the course of 2018 and return to profitability in fiscal 2018.