NEC Australia has reported an operating loss of $19.3 million and engaged in a company restructure that saw redundancies and the elimination of two business lines, costing an additional $22 million to the IT suppliers bottom line.
After non-operating adjustments, including interest costs and customer base amortisation, NEC reported a total comprehensive loss before tax of $52.5 million for the year ending 31 March 2017.
In its financial report posted to the corporate regulator ASIC, the directors report highlighted a comprehensive market and business review that took place throughout 2016/2017, which sought to assess optimal business structure, determine viability of specialist businesses within NEC and revi…
Read the full article at: https://www.crn.com.au/news/nec-australia-reveals-losses-cuts-and-restructure-469833