Netel Technology (Holdings) Limited reported audited consolidated earnings results for the year ended May 31, 2016. For the year, the company reported turnover of HKD 2,367,000 against HKD 2,127,000 a year ago. Operating loss was HKD 23,250,000 against HKD 20,501,000 a year ago. Loss for the year attributable to equity holders of the company was HKD 23,247,000 or 2.38 cents per basic and diluted share against HKD 20,547,000 or 2.55 cents per basic and diluted share a year ago. Net cash used in operating activities was HKD 16,740,000 against HKD 14,288,000 a year ago. Additions of intangible assets were HKD 1,650,000 against HKD 1,478,000 a year ago. Additions of plant and equipment were HKD 592,000 against HKD 191,000 a year ago. Capital expenditures were HKD 2,242,000 against HKD 2,171,000 a year ago. The increase in total turnover is mainly attributable to the increase in headhunting business and increase in calling card sales, SIP service revenue and carrier sales during the year. The increase of the loss for the year was mainly due to the increase in staff costs and share-based payments recorded in the current year.