Ayo’s annual loss widens as challenges persist on several fronts
IT company says it was hit by higher input costs and supply chain issues, along with a series of ongoing legal battles
30 November 2022 - 14:41
Ayo Technology Solutions reported weaker annual results in a year marred by higher input costs, supply chain delays, the global economic downturn, litigation and “ongoing reputational issues”.
While revenue increased 3.3% year on year to R1.76bn for the 12 months to end-August, cost of sales jumped 9.2% to R1.38bn. That was due to an increase in input costs — in part the result of a global shortage of semiconductors and other key components, and supply chain delays — and a weaker rand...
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