30th Jun 2016 09:56
LONDON (Alliance News) - Digital media and technology company Milestone Group PLC on Thursday reported a wider loss and much lower revenue in the first half of its financial year but expressed cautious optimism on its outlook.
The company, which is involved in the Nexstar music publishing joint venture and youth unemployment programme Passion Project, said it made a pretax loss of GBP742,857 in the six months to the end of March, compared to a GBP618,826 loss a year earlier.
Revenue, made through corporate partnerships signed via the Passion Project, fell to GBP50,408 in the half from GBP261,353 a year earlier.
Milestone said the economic environment in recent years has been "challenging for its development" but expressed confidence that "areas of social focus" will prove favourable for its outlook.
Milestone shares were down 15% to 0.55 pence Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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