|
HRC World PLC on Tuesday reported a wider first-half loss and lower revenue as costs rose following its strategic shift into data centre development. The London-based data centre facilities operator posted a pretax loss of $256,000 for the six months ended September 30, widening from a loss of $52,000 a year earlier. Revenue fell to $357,000 from $436,000. Basic and diluted loss per share widened to 0.18 US cents, from earnings of 0.10 cents a year earlier. HRC World said the loss reflected expenses related to its business realignment and early-stage investment in its data centre strategy, following the full exit from its legacy food and beverage operations. General and administrative expenses rose to $306,000 from $163,000, while gross profit declined to $37,000 from $107,000. Despite the higher loss, the company said it maintained a ‘robust’ cash position of $2.0 million at the end of September, compared with $3.1 million at March 31. During the period, HRC World focused on advancing phase one of its data centre facilities in Subang Jaya, Kuala Lumpur, entering the design and development stage. The group said it remains on track to complete renovations and offer high-resiliency co-location services. Chair Simon Retter said the period marked a ‘pivotal phase’. He added: ‘The group has fully transitioned away from its legacy food and beverage operations to focus exclusively on our data centre facilities business through our subsidiary, HRC World Sdn Bhd. This strategic realignment reflects our commitment to capitalising on the growing demand for reliable, secure, and sustainable IT infrastructure across the Asia-Pacific region and beyond.’ HRC World shares were last quoted at 11.50 pence each on the Aquis Stock Exchange. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
