Tuesday, 28 February 2012

XOX: Confirmed A Fairy Tale

While XOX is listed in Bursa in June 2011, it is already half way through the year of 2011. The directors by that time should know how well the company has performed for the first half of the year. At that point of time, they gave a financial performance guidance with a revenue of RM245.9mil and net profit of RM19.7mil. If we look back at the previous financial performance, XOX recorded a revenue of RM20mil and net LOSS of RM16mil in year 2010. The profit guidance is a fairy tale kind of numbers but since it was made half way through year 2011, we just wait and see.

Now comes the FY2011 results. XOX's whole year revenue is at RM66mil and suffers its worse net lost at RM20mil. Speechless...

Revenue (mil) Loss after tax (mil)
2007 - 0.2
2008 - 1.2
2009 8.6 13
2010 20 16
2011 66 20

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