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TPV Technology 9M15 Net Loss Widens 49%
TPV Technology sunk deeper into the red with a massive 49.1 percent increase in 9M15 net loss to US$90 million, from the net loss of US$60.2 million last year, weighed down by uncertainties in the economy.
The group’s results in 3Q15 were affected by lacklustre end market demand for TVs and monitors as well as unfavourable currency movements, resulting in a 9 percent drop in revenue received year on year to US$2.8 billion. The loss of US$50 million in foreign exchanges, largely attributed to Brazilian Real and Rmb’s depreciation, meant the group barely broke even at operating level and recorded a net loss of US$26.8 million.
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