LONDON (Alliance News) - Milestone Group PLC Thursday reported a wider loss and just a slight increase in revenue for its last financial year and said it would need to raise more funds by issuing shares, although it gave a positive outlook.
The digital media and technology company reported a net loss of GBP1.1 million for the year to Sepetmber 30, 2014, compared with a loss of GBP980,570 in the previous 12 months, even though revenue rose to GBP157,377, from GBP152,373. Its realised a GBP409,453 gain on the sale of investments in the most recent period, down from GBP440,605 in fiscal 2013. Other operating income, which it didn't define also dropped to just GBP1,500, from GBP287,500.
"Each of the separate business offerings has shown the beginnings of their revenue potential with growing interest being shown from an ever-expanding customer base and further new revenues visible in the near future," Chief Executive Deborah White said.
"The company continues to carefully manage its working capital position and will need to raise further monies through subscriptions for new shares in the short term to continue to support its business activities until they are fully revenue generating," the company added.
Milestone Group shares were untraded Thursday morning. The stock is down 23.6% so far in 2015.
By Steve McGrath; stevemcgrath@alliancenews.com; @stevemcgrath1
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