Member Article

Preston’s MBL Group, a distributor of home entertainment products, reports pre-tax loss of £0.4 million

Preston-based MBL Group, a distributor of home entertainment products has reported a pre tax loss of £0.4 million compared to £0.2 million for the same period last year.

However it reports revenue as up at £5.9 million compared to £5.6 million for the same period last year

The group report that its losses are due to a tough export market for their home entertainment division where sales fell by £420k.

The company say that losses are also due to investment within its Garden and Leisure division but that this investment has yielded more customers and a greater revenue already.

Chairman of MBL, Tony Johnson, commented: “The Group has delivered a satisfactory first six months performance.

“The Home Entertainment division has experienced challenging trading conditions and the Group has continued to invest in the Garden and Leisure division to develop future revenue streams.

“Group revenue increased by 5% and, as a result of trading conditions and continued investment, generated an operating loss for the six months to 30 September 2014.

“The Board has been reviewing the future strategy for the Group and continues to evaluate means to return value to shareholders.”

This was posted in Bdaily's Members' News section by Sophia Taha .