Atlas Mara Limited, African financial services institution, incorporated in the British Virgin Islands, announced its unaudited financial results for the thirteen months period ended 31 December 2014. During this period, the company raised US$625 million in equity capital by way of the company’s IPO and private placement. By making four acquisitions, the BVI company established its presence in seven sub-Saharan African countries, and some of Africa’s leading economic trade blocs.
Also, during this year Atlas Mara Limited received more than US$125 million of development finance institution funding to facilitate asset growth at operating subsidiaries and reduce cost of funding.
The BVI company reported a US$63.1 million loss, based on unaudited results. The adjusted pro forma net profit made US$7.2 million, excluding non-recurring transaction and integration expenses and including acquisitions. As at the end of the year, book value per share was US$9.73, tangible book value per share was US$7.54.
British Virgin Islands-registered company TechFaith Wireless Communication Technology Limited reported its unaudited financial results for the fourth quarter and the year period ended December 31, 2014. For the fourth quarter, the company reported total net revenues of US$25.9 million – compared to US$21.5 mln in the third quarter of 2014 and US$31.2 mln in the fourth quarter of the last year. Gross profit for the reported period of 2014 was US$3.0 mln (US$1.3mln in the third quarter of 2014, and US$4.o mln in the same quarter of 2013). Operating expenses were US$9.0 mln (US$6.2 mln for the third quarter of 2014 and US$8.8 mln in the fourth quarter of 2013). Net loss of the BVI company was US$3.9 mln in the fourth quarter of 2014, or US$0.07 per basic and diluted ADS, as compared to a net loss of US$2.1 mln, or US$0.04 per basic and diluted ADS in the fourth quarter of the previous year.
For the year period ended December 31, 22014, TechFaith announced that its total revenues made US$96.7 mln – a significant decline if compared to US$119.5 mln for the year 2013. Company’s gross profit for the year 2014 was US$8.2 mln (US$16.8 mln for the full year 2013). Operating expenses were US$27.2 mln (US$22.0 mln for 2013). Net loss attributed to TechFaith for year 2014 was US$13.4 mln, or US$0.25 per basic and diluted ADS, as compared to a net loss for 2013 that made US$2.5 mln, or US$0.05 per basic and diluted ADS.
According to company’s outlook for the first quarter period of this year, total revenues for Q1 2015 are expected in the range of US$22.0 mln to US$26.0 mln.