Netel Technology (Holdings) Limited reported unaudited consolidated earnings results for the third quarter and nine months ended February 29, 2016. For the quarter, the company reported turnover of HKD 487,000 against HKD 551,000 a year ago. Operating loss was HKD 8,337,000 against HKD 9,908,000 a year ago. Loss for the period attributable to equity holders of the company was HKD 8,334,000 or 0.84 cents per basic and diluted share against HKD 9,903,000 or 1.19 cents per basic and diluted share a year ago.

For the nine months, the company reported turnover of HKD 1,779,000 against HKD 1,688,000 a year ago. Operating loss was HKD 20,185,000 against HKD 17,849,000 a year ago. Loss for the period attributable to equity holders of the company was HKD 20,202,000 or 2.10 cents per basic and diluted share against HKD 17,910,000 or 2.28 cents per basic and diluted share a year ago. The Group recorded a total turnover an increase of approximately HKD 0.09 million from approximately HKD 1.69 million for the same period of last year. The increase was mainly attributable to the increase in recruitment business, net with the decrease in calling card sales, SIP Service revenue and carrier sales during the period. The increase of the loss for the period was mainly due to the increase in staff costs and directors' emoluments in the current period.