Business
FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2023
FINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2023.
About this update from Orient Telecoms Plc
[{"type":"text","content":"\n\n \n \nORIENT TELECOMS PLC\n \n(\"ORIENT\" or the \"Company\")\n \nFINAL RESULTS FOR THE YEAR ENDED 31 MARCH 2023\n \nORIENT is an information technology company that offers managed services as its core business, which include managed services in machine-to-machine networking, solutions for internet of things (IOT), cyber security, big data solutions as well as full spectrum of other managed services, announces its results for the year ended 31 March 2023.\n \nHighlights for the period\n· During the financial year ended 31st March 2023, the Group profit improved resulting in higher basic and diluted profit per share of 0.40p from 0.35p in the year 2022 despite lower in revenue by 24.2% to £463,418 (2022: £611,544). \n \n· Our strategy for the coming year revolves around two key pillars: AI integration and market expansion. We will invest additional resources to ensure successful AI integration into our managed service solutions, creating new value propositions for our customers.\n \n· At the end of the period, we had cash reserves of £329,792 (2022: £466,623) and no borrowings. This strong financial foundation provides us with the flexibility and stability to pursue our strategic objectives effectively. \n \nThe annual report and accounts is available on the Company's website at: www.orient-telecoms.com \n\n For more information please contact: \n \n\n\n\n\nOrient Telecoms plc\n\n\n\n\n\n\n\n \nSayed Mustafa Ali\n \n\n\[email protected]\n\n\n\n\n \n &nb...