Credit: Dreamstime

Inabox Group has closed the 2018 financial year with a net loss of $13 million, with the hit related to its direct business which was sold after the financial year ended on 30 June.

The publicly-listed company’s net loss after tax includes full year impairment charges of $11.9 million relating to the sale of its direct business, which includes Hostworks and Anittel.

Both businesses were acquired by 5G Networks in a $5.7 million deal that took place in early August.

The direct business, which was established in 2014, proved challenging to grow, the…

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