22nd Dec 2015 11:42
LONDON (Alliance News) - MBL Group PLC on Tuesday reported a narrowed pretax loss in the first half of its financial year as revenue was boosted by good sales and strong operating profit in both of the company's divisions.
The distributor and wholesaler of CDs and DVDs, mainly for export, which also has a division selling mail order garden bird and wildlife products, said its pretax loss in the six months ended September 30 narrowed to GBP0.04 million from GBP0.5 million in the same period the year before, as revenue grew to GBP6.7 million from GBP6.0 million.
MBL said it achieved a good performance in both the Home Entertainment and Garden & Home divisions, with the former making sales of GBP3.9 million compared with GBP4.0 million the year before, and the latter achieving growth of almost 50% to GBP2.7 million from GBP1.8 million.
Operating profit in Home Entertainment rose to GBP70,000 from GBP57,000, while Garden & Home swung to a GBP19,000 operating profit from a GBP55,000 loss the prior year.
"The second half of the financial year has started satisfactorily with sales in both divisions in line with management expectations," Non-Executive Chairman David Johnson said in a statement.
Shares in MBL Group were trading up 5.8% at 8.20 pence on Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
MUBL.L