Megalogic Technology Holdings Limited announced audited consolidated earnings results for the year ended December 31, 2014. For the year, the company reported revenue of HKD 52,136,000 against HKD 42,769,000 a year ago. Loss before income tax was HKD 7,652,000 against HKD 6,151,000 a year ago. Loss attributable to owners of the company was HKD 7,690,000 or 3.04 cents basic and diluted per share against HKD 6,090,000 or 2.85 cents basic and diluted per share a year ago. The increase in Revenue was mainly due to the mentioned increase in revenues from ASIC products and Standard IC products. The increase in loss attributable to owners of the company was mainly because the increase in gross profit was more than offset by the overhead related to business expansion and development, such as staff costs, operating rentals, depreciation and legal and professional fees.

Looking ahead to 2015, despite some uncertainties remaining in the global economic outlook, the group will endeavour to develop its existing IC business and money lending business. The company will continue to enhance research and development activities, particularly those related to green energy and power management, to maintain its competitiveness in the IC markets. They will also strive to develop the money lending business. At the same time, the management will consider any other suitable business opportunities to broaden the sources of revenues and cash inflows of the Group, taking into account the cash flow requirement and associated business risk.