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Milestone Loss Widens And Revenue Falls, Outlook Still Favourable
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; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Latest MSG News
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13 Dec 2016 - Milestone Raises New Funds As October Proceeds Still Not Received (ALLISS)
13 Dec 2016 - Milestone Plans New Shares Placing After October Funds Not Received (ALLISS)
7 Dec 2016 - Milestone Seeks Funding As Bulk Of Placing Proceeds Still Not Received
9 Nov 2016 - Milestone Signs Deal With Money Transfer And Pre-Paid Cards Firm
7 Nov 2016 - Milestone's Nexstar Signs Payroll Deal; Issues Shares To Creditor (ALLISS)
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