idt international ltd (IIN) Snapshot

IDT International Limited announced that based on the information currently available to the company, it is expected that the Group may continue to record losses from operations for the year ended March 31, 2013 due to the challenging business environment in the year under review and one-off expenses including tax related items, despite there is a one time gain from the disposals of properties.

The Board of Directors of IDT International Limited announced that Mr. Leong Mun Hoong has been appointed as an Executive Director of the company with effect from April 8, 2013. Mr. Leong joined the Group in June 1999 and has been a director and President of IDT Technology Limited since October 1999.

IDT International Limited announced unaudited consolidated earnings results for the six months ended September 30, 2012. For the period, the company reported turnover of HKD 708.4 million compared to HKD 791.5 million a year ago. Loss before taxation was HKD 4.8 million compared to HKD 4.8 million a year ago. Loss for the period was HKD 9.4 million compared to profit for the period of HKD 1.2 million a year ago. Loss for the period attributable to owners of the company was HKD 9.4 million or 0.38 cents per basic and diluted share compared to profit for the period attributable to owners of the company of HKD 1.2 million or 0.05 cents per basic and diluted share a year ago. Net cash used in operating activities was HKD 113.3 million compared to HKD 33.4 million a year ago. Total turnover decreased 10.5%, mainly attributable to downscale of the telecommunication business and decline of sales in European countries. Capital expenditure on property, plant and equipment was HKD 6.6 million compared to HKD 7.9 million a year ago, which was primarily used for the business operation and development.