Abu Dhabi – Mubasher: Sudatel Telecom Group recorded lower net profits at $24.99 million in 2023, compared to $56.85 million in 2022.
During the 12-month period that ended on 31 December 2023, the revenues fell year-on-year (YoY) to $401.38 million from $421.68 million, according to the preliminary financial results.
Earnings per share (EPS) declined to $0.01 last year from $0.04 in the January-December 2022 period.
Additionally, the total assets shrank to $932.27 million in 2023 from $1.14 billion a year earlier.
In the first nine months (9M) of 2023, the telecom group shifted to net losses valued at $3.36 million, versus profits worth $67.13 million in 9M-22.
