Wow.. $ 6 million loss for the year.
Looks like they have been cleaning out all the old.. written off everything that could be written off or down clearing the way for this fin year.
With Ian May and all the old stafff redundancies as well as I imagine many other dead things hanging around this is a very prudent thing for the new TEE people to have done.
In particula like this part ..
""The Company has undertaken a detailed review of the activities and operations of this division in
response to the continuing losses and has implemented the following changes:
Senior management changes have been made.
A review has been undertaken of all products and services offered to customers
and the basis of delivery.
A new General Manager and additional experienced sales executives have been
appointed.
All commercial agreements, agency arrangements etc. have been reviewed.
Some customer services have now been outsourced.
Overhead expenses have been reviewed and reduced where possible.
The retained business is still able to offer the full range of voice and data products and services to
its customer base. The Group is seeking opportunities to secure additional products and services
that can be offered to these customers."
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