GHL Reported Quarterly Losses

GHL announced its earnings. Rather bad.

Quarterly rpt on consolidated results for the financial period ended 31/12/2007

This what they said.

• For the quarter ended 31 December 2007, the Group recorded revenue of RM12.69 million, representing a decrease of approximately 24.91% as compared to RM16.90 million achieved in the preceding year’s corresponding quarter. The decrease was contributed by stiff competition in the local and regional market. The Group incurred a loss before taxation of RM3.18 million as compared to profit before taxation of RM3.62 million in the preceding year’s corresponding quarter ended 31 December 2006. The loss before taxation was contributed mainly by a significant increase in operational costs due to the extensive expansion of the group in the overseas market couple with a shift in lower profit margin sales mix which comprising mainly sales of hardware equipment, lower composition of rental revenue of EDC and software solution sales.
  
  For the year ended 31 December 2007, the Group recorded revenue of RM51.34 million, representing an increase of 7.16% as compared to RM47.91 million achieved in the preceding year’s corresponding period. The profit before taxation of the Group for the current twelve month period is RM0.47 million, which is a drop from a profit before taxation of RM9.18 million in the previous year corresponding period. The decrease in profit before taxation was contributed mainly by the increase of operational costs in line with the extensive expansion in overseas market couple with a lower profit margin sales mix comprising substantially with sales of hardware equipment, lower compositions of rental of EDC and software solution sales.

End of the good times for GHL?

What do you think?