But current liabilities exceed assets by $201mln

Abu Dhabi-listed Sudatel Telecom Group has swung to a net profit of $20.036 million in 2021 after posting a loss of $10.3 million in the previous year.

However, the company’s current liabilities have exceeded current assets by $201.557 million, according to disclosure to the Abu Dhabi Securities Exchange (ADX) on Thursday.

As of December 31, 2021, the trade debtors’ balance included a long outstanding amount of $22.609 million related to 28 international interconnect operators. Measures are already in place to recover the outstanding balance, the document stated.

zawya