Hutchison Telecommunications (Australia) Limited (AU:HTA) has released an update.
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Hutchison Telecommunications (Australia) Limited reported a reduced net loss of $124.0 million for 2023, a significant improvement compared to the previous year’s loss of $398.4 million, largely due to no further impairment on its 25.05% interest in TPG Telecom. The company saw an increase in revenue to $0.9 million, attributed to higher interest rates and greater cash reserves. Despite the improved loss figures, the company’s share of net loss from equity-accounted investments, including TPG, rose due to increased financing costs.
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