Tuesday, 24 April 2012

Redtone posts 3Q profit on higher turnover, non-operating gains

KUALA LUMPUR (April 24) : REDTONE INTERNATIONAL BHD [] posted profits in the third quarter against losses a year earlier as the telecommunication firm registered higher revenue and non-operating gains.

In a statement to the exchange on Tuesday, Redtone said net profit came to RM427,000 in the quarter ended February 29, 2012 versus a net loss of RM1.93 million previously. Revenue was up 13% to RM23.58 million from RM20.96 million.

The firm’s non-operating income in the 3Q comprises mainly subsidiary-disposal gains, according to notes accompanying its financials.

Redtone said cumulative nine-month net loss narrowed to RM324,000 from a net loss of RM3.71 million a year earlier as revenue gained 27% to RM84.24 million from RM66.43 million.

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