CSG has more than tripled its losses after making the decision to exit its enterprise business earlier this year forced the company to write down its assets by $116 million.
The company racked up a statutory net loss after tax of $150.1 million for the 2018 financial year ending 30 June, compared to a $43.7 million loss in 2017.
EBITDA also took a massive hit, dropping from a $32.6 million loss last year to a $151 million loss in 2018, while revenue dipped eight percent to $225.7 million.
CSG blamed the mounting losses on the $116 million non-cash impairment, as well as the $39.3 million charge for provisions relating to the enterprise solutions business. Meanwhile crumbling revenue was pinned on lower pri…
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