Epicentre Holdings fell into the red in the year ended June 30 with a net deficit of $7.1 million, or 4.43 cents per share, from a year-ago profit of $507,000 as it lost money from its Apple-related businesses, the reseller announced late on Wednesday.
Epicentre shares were not traded on Wednesday, but were bid at 10 cents and offered at 11 cents.
Continuing operations contributed a net loss of $3.1 million, or 1.92 cents per share.
Discontinued operations, which include the Singapore Apple-related business, posted a net loss of $4 million, or 2.51 cents per share, for the period.
Revenue from continuing operations fell 30.5 per cent to $18.35 million, largely from an $11 million decline in revenue from the Malaysian operations, which lost their Apple Premium Reseller status.
Japan IPL Holdings, a hair removal and skin rejuvenation salon in which Epicentre acquired a 51 per cent stake in April last year, contributed $3.6 million of revenue and $3.4 million of gross profit during the year.
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AT A GLANCE
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Revenue:
$18.35 million (-30.5%)
Net loss:
$7.1 million (not meaningful)
Epicentre's board described the operating environment over the next year as "challenging".
It said a planned acquisition of property development and hotel management businesses announced in June represents an opportunity for the company to venture into new business areas.
