Ellipsiz says it expects to report a profit for the 1HFY2025 ended Dec 31, 2024, reversing from its loss of $1.95 million in the 1HFY2024.
According to the company, the profit is mainly thanks to the gain on disposal of its 51% stake in Axis-Tec. The better performance of its distribution and services solutions segment is also a contributor to Ellipsiz ’s half-year earnings.
The company is expected to report its earnings around Feb 10.
On the same day, Ellipsiz announced the appointment of its new CEO, Ho Siew Keong Kenneth.
Ho has been the executive director of the company since Aug 1, 2024, and was previously the general manager at Lum Chang Holdings from May 2024 to July 2024.
Ellipsiz's previous CEO and executive director, Kelvin Lum Wen-Sum, stepped down from his role on Sept 13, 2024, citing "health-related" reasons.
Shares in Ellipsiz closed flat at 15.8 cents on Jan 27.
