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AGTech losses continue into first quarter

12th May 2014 7:06 am GMT

Chinese lottery supplier AGTech Holding has posted a HK$46.4m (€4.3m) loss for the first quarter of 2014, with results impacted by a decline in revenue, a significant increase in expenses, as well as share-based payments totalling $29.0m during the period.

Revenue was down 32 per cent to $25.7m during the quarter, due mainly to the expiry of certain contracts in the company’s Lottery Management division as a result of AGTech’s transition of its core business [...]

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