Nexgram posts first quarter loss due to disposal of units
PETALING JAYA: Nexgram Holdings Bhd swung to the red, posting a net loss of RM2.3mil for the first quarter ended Oct 31, 2016, from a net profit of RM3.9mil in the same quarter a year ago on increased losses incurred from the disposal of subsidiaries involved in information technology (IT) during the quarter.
Revenue dropped 56.7% to RM13.43mil mainly due to lower revenue from the IT subsidiaries, as well as subsidiaries in the security and video surveillance equipment business.
Loss per share was 12 sen from 21 sen previously.
The company told the exchange that changes across the IT and telecommunications industries had impacted performance.
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