That 'Roti' Man

Friday, March 30, 2007

That 'Roti' Man

My Dearest Moo Moo Cow,

That roti fella, Silver Bird, recorded huge losses again. It said it lost some 18.2 million for its first quarter of its current fiscal year.

It's really not looking good at all.

This is what the company said.

For the quarter under review, the Group registered revenues of RM 154.5 million compared with RM 141.4 million in the corresponding period of previous year mainly due to higher revenue by 19% from MultiCom Division. However, the Group incurred a loss before taxation of RM 18.1 million for this quarter compared with a profit of RM 1.2 million in the corresponding period of previous year partly due to share of losses from the jointly controlled company amounting to RM 8.4 million.

The Group registered a loss before taxation of RM 18.1 million for the current quarter compared with a loss of RM 53.9 million in the preceding quarter. The improved results for the 1st quarter were principally due to recovering return rates. This translated into higher revenue of 7%. There is no provision for impairment of assets in this quarter compared with the previous quarter where RM 35.9 million was provided and written off as impairment of assets.

Eh? So they lost less money.

but... but... would you call this as an improvement?

My dearest Moo Moo Cow, for me, a loss is a loss is a loss.

No?

What is most worrying for me is their cash flow. Have a look below and you be the judge..

Look at the rate the cash vanishes!!