TechFinancials, Inc. announced consolidated earnings results for the year ended December 31, 2017. For the year, revenue was USD 13,362,000 against USD 21,325,000 a year ago. Operating profit was USD 818,000 against USD 5,037,000 a year ago. Profit before taxation was USD 116,000 against USD 4,051,000 a year ago. Loss attributable to owners of the company was USD 2,599,000 or USD 3.58 cents per diluted share against profit was USD 1,179,000 or USD 1.70 cents per basic and diluted share a year ago. Net cash generated from operating activities was USD 173,000 against USD 5,924,000 a year ago. Acquisition of property, plant and equipment was USD 267,000 against USD 146,000 a year ago. Development of intangible assets was USD 41,000 against USD 334,000 a year ago. EBITDA attributed to shareholders was USD 0.3 million against USD 2.8 million a year ago.

For the year 2018, the company expected revenues will continue to decline throughout 2018 although appropriate mitigation actions have been and continue to be put in place to contain expected losses.