30th Jun 2015 16:30
LONDON (Alliance News) - Resource Holding Management Ltd Tuesday said it swung to a pretax loss in 2014 after it incurred some one off costs from selling subsidiaries but said it is confident of improving the group as a whole in 2015.
The investment company reported a MYR15.6 million pretax loss in 2014, swinging from a MYR6.0 million profit in 2013, despite revenue rising to MYR53.4 million from MYR49.1 million. The loss was caused by administrative expenses increasing to MYR26.9 million from MYR11.8 million.
Those administration costs rose due to the sale of the company's operating subsidiaries which incurred a one-off, non-recurring extraordinary expense of MYR12.3 million.
"The group remains optimistic about the outlook for 2015 and is confident that the group will be able to capitalise on digital opportunities within the media and advertising business segment," said the company. "We are confident that 2015 will be an improved year for the group as a whole."
Resource Holding shares closed up 13% to 8.48 pence per share on Tuesday.
By Joshua Warner; [email protected]; @JoshAlliance
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