Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMyanmar Strat. Share News (SHWE)

Share Price Information for Myanmar Strat. (SHWE)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 10.25
Bid: 8.50
Ask: 12.00
Change: 0.00 (0.00%)
Spread: 3.50 (41.18%)
Open: 10.25
High: 10.25
Low: 10.25
Yest. Close: 10.25
SHWE Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

Myanmar Strategic Interim Loss Narrows On Higher Revenue

Mon, 29th Jun 2020 15:18

(Alliance News) - Myanmar Strategic Holdings Ltd on Monday posted improved results for the first half of financial 2020, as it said the Covid-19 pandemic has accelerated its digital transformation and unlocked new revenue streams.

Shares in the Myanmar-focused developer and manager of consumer businesses were untraded on Monday afternoon in London, last quoted at USD10.25 each and down 2.4% from the start of the year.

For the six months ended March 31, Myanmar Strategic posted revenue of USD2.8 million, up 8% from the comparative period a year prior. Its pretax loss narrowed to USD1.6 million from USD1.7 million.

By business, Services contributed 70% of revenue, Education 28%, and Hospitality 2%.

While economic activity in Myanmar began to slow at the end of January due to the early effects of Covid-19, the only division significantly hurt over the six-month period was Hospitality, the company said. Despite the "challenging" business environment and moderate slow-down, Covid-19 has accelerated the digital transformation across all divisions and unlocked new revenue streams such as a fully online product for Wall Street English, it said.

"I am very pleased to report that over the six-month period we have continued to enhance our services and products across all our divisions in Myanmar, as we remain focused on growth and maximising operational efficiency. The board is confident that the company's consumer-focused businesses are well positioned both to contribute to, and also benefit from, the favourable outlook for economic growth in Myanmar," said Chief Executive Enrico Cesenni.

As at the end of March, Myanmar Strategic had cash of USD238,327.

By Ife Taiwo; ifetaiwo@alliancenews.com.

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News

IN BRIEF: Myanmar Strategic Completes Purchase Of Wall Street English

IN BRIEF: Myanmar Strategic Completes Purchase Of Wall Street English

14 Jul 20 20:13

Myanmar Strategic Interim Loss Narrows On Higher Revenue

Myanmar Strategic Interim Loss Narrows On Higher Revenue

29 Jun 20 15:18

Myanmar Strategic In Placing Plans; Buys Wall Street English Vietnam

Myanmar Strategic In Placing Plans; Buys Wall Street English Vietnam

26 May 20 15:57

Myanmar Strategic, Liverpool John Moores To Offer Engineering Studies

Myanmar Strategic, Liverpool John Moores To Offer Engineering Studies

20 Feb 20 12:59

Myanmar Strategic Opens Wall Street English Centre In Mandalay

Myanmar Strategic Opens Wall Street English Centre In Mandalay

17 Feb 20 08:58

Myanmar Strategic Unit Wins Security Contract From Paint Firm Jotun

Myanmar Strategic Unit Wins Security Contract From Paint Firm Jotun

10 Feb 20 13:47

Myanmar Strategic Revenue Rises But Loss Widens On "Subdued Tourism"

Myanmar Strategic Revenue Rises But Loss Widens On "Subdued Tourism"

18 Dec 19 11:51

Myanmar Strategic To Open Fourth Wall Street English Centre

(Alliance News) - Myanmar Strategic Holdings Ltd said on Friday said it is planning the opening of a fourth Wall Street English language centre in Myanmar.The new centre is expected to open

6 Sep 19 12:07

UK Shareholder Meetings Calendar - Next 7 Days

Friday 30 AugustGear4MusicTex HoldingsVela TechnologiesStagecoach 2 3 Mining (re by 4

29 Aug 19 15:59

Myanmar Strategic Opens First International School In Yangon

(Alliance News) - Myanmar Strategic Holdings Ltd said the Yangon American International School officially opened on Monday.The developer and manager of consumer businesses said the school a

19 Aug 19 10:01

Myanmar Strategic Annual Revenue Jumps After EXERA Buy But Loss Widens

(Alliance News) - Myanmar Strategic Holdings Ltd on Tuesday said its revenue multiplied in its most recently ended financial year, but loss widened amid higher costs.The guarding, and said

30 Jul 19 13:40

Myanmar Strategic To Issue New Shares; Secures USD3 Million Loan

(Alliance News) - Myanmar Strategic Holdings Ltd on Monday said it will launch a new share issuance programme to fund working capital and should the company require new capital for new investment

1 Jul 19 13:44

Myanmar Investments Shareholders Back Bid Rejection Decision

(Alliance News) - Myanmar Investments International Ltd on Wednesday said shareholders have supported the company's decision to reject Myanmar Strategic Holdings Ltd's merger investment in

19 Jun 19 11:38

UPDATE: Myanmar Investments Rejects Offer From Fellow Myanmar Firm

(Alliance News) - Myanmar Investments International Ltd on Tuesday confirmed it has rejected a merger proposal from Myanmar Strategic Holdings Ltd and said that it will not enter into negotiations

18 Jun 19 13:39

Myanmar Strategic Seeks To Buy Fellow Myanmar Focused Investment Firm

(Alliance News) - Myanmar Strategic Holdings Ltd on Tuesday said it recently made a cash and share offer worth 75 US cents per share to Myanmar Investments International Ltd, but the investment to

18 Jun 19 12:38
12

Login to your account

Don't have an account? Click here to register.