Daisho Microline (00567) said its loss attributable to owners for the year ended 31 March 2017 narrowed to HK$51.01 million from HK$60.9 million for the previous financial year.
Basic and diluted loss per share was HK10.55 cents.
Revenue amounted to HK$170 million, a decrease of 17.7% from a year earlier.
The Group has made a turnaround from a gross loss margin of about 8.9% in last year to a gross profit margin of about 0.04% in current year, mainly due to the review and enhancement of the manufacturing process since second half of 2016, including the implementation of the tight control on various manufacturing cost; the improvement in production efficiency so as to reduce in scrap rate; and the reduction in the purchase price of certain major chemical material, by sourcing different suppliers.
No final dividend will be distributed.
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