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1Utopia sinks deeper into losses
by Cals Tue 28 Oct 2014, 00:40
1Utopia sinks deeper into losses
KUALA LUMPUR (Oct 27): 1 Utopia Bhd ( Financial Dashboard) sinks deeper into losses.
The information and communications technology (ICT) player announced its net loss widened to RM3.75 million in the third quarter ended Aug 31, 2014 (3QFY14), from RM418,000 in the previous corresponding period.
Quarterly revenue came in at RM89.7 million — 33.5% lower against RM134.9 million a year ago.
The company attributed the losses to lower revenue for the sales of notebooks and smartphones.
For the nine month-period ended Aug 31, 1 Utopia’s net loss expanded to RM5.69 million, from RM853,000 in the previous correspond period. Its revenue declined to RM337.4 million, from RM374.4 million.
Moving forward, the company commented the domestic retail sector would face a challenging year ahead, in view of anticipated reduction in consumer spending.
1 Utopia share price closed unchanged at five sen today, with 862,000 shares transacted, giving it a market capitalisation of RM49.46 million.
Its warrant on the other hand, rose one sen to close at 3.5 sen.
KUALA LUMPUR (Oct 27): 1 Utopia Bhd ( Financial Dashboard) sinks deeper into losses.
The information and communications technology (ICT) player announced its net loss widened to RM3.75 million in the third quarter ended Aug 31, 2014 (3QFY14), from RM418,000 in the previous corresponding period.
Quarterly revenue came in at RM89.7 million — 33.5% lower against RM134.9 million a year ago.
The company attributed the losses to lower revenue for the sales of notebooks and smartphones.
For the nine month-period ended Aug 31, 1 Utopia’s net loss expanded to RM5.69 million, from RM853,000 in the previous correspond period. Its revenue declined to RM337.4 million, from RM374.4 million.
Moving forward, the company commented the domestic retail sector would face a challenging year ahead, in view of anticipated reduction in consumer spending.
1 Utopia share price closed unchanged at five sen today, with 862,000 shares transacted, giving it a market capitalisation of RM49.46 million.
Its warrant on the other hand, rose one sen to close at 3.5 sen.
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