The board of directors of TeleEye Holdings Limited informed the shareholders of the company and potential investors that the unaudited consolidated loss attributable to owners of the company for the six months ended December 31, 2013 is expected to decrease significantly in comparison with the same period of last year. The Board considers that the improvement in the performance of the Group is mainly attributable to non-recurrent (i) cost cutting measures and (ii) reduction in bad and doubtful debts provision.
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