S Megga International reports interim loss, turnover slump

S Megga International Holdings has reported a net loss of $52.14 million for the six months to December. The troubled telecoms equipment manufacturer made net profit of $1.72 million in the second half of 1996. Turnover dropped to $291.36 million, down 32.8 per cent, while losses per share were 5.36 cents compared with earnings of 0.3 cents per share. The company will not pay an interim dividend.