Growth Enterprise Market-listed software developer and computer hardware and software distributor ePro fell into the red in the year to June 30, losing HK$46.15 million.
It compared with the previous year's HK$8.59 million profit.
The loss came despite turnover rising 17 per cent, to HK$430.64 million. But the cost of goods sold during the year rose 26.6 per cent, to HK$349.5 million, far exceeding the turnover growth.
On Friday it had warned of a substantial loss, blaming inventory and receivable write-offs and costs related to the June closure of its computer hardware and software operation due to deteriorating profitability.
Administration expenses increased 61.9 per cent to HK$93.06 million, while other operating expenses soared to HK$8.5 million from HK$338,000.
There was no break-down on the expenses in the results' statement. Analysts believed a part comprised provisions for accounts receivables and inventory, as well as severance costs for laying off 25 per cent of its Hong Kong staff.
