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Thursday, October 20, 2011

Bullish tone for REDtone (BT)

REDtone International Bhd, a telecommunications service provider, believes the worst is over and it might return to the black in the current financial year, boosted by revenue from its broadband business.

"This is definitely a turnaround year for REDtone. Barring unforeseen circumstances, we are likely to break even or be profitable this financial year (ending May 31 2012). As you know, we suffered a net loss of about RM11 million last year, so if we break even, it would mean an improvement of RM11 million ... that's a huge improvement," said its managing director Datuk Wei Chuan Beng in a Business Times exclusive.

REDtone has been posting net losses since its 2008 financial year and the market will be keenly watching its first-quarter results, due to be announced sometime this month, for an indication that the company has indeed made a turn for the better.

Read more: Bullish tone for REDtone

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