Beget Holdings has reported a headline loss of 1.25c a share for the year to December, its first full-year loss since listing on the JSE at the end of 2002.
This compares with headline earnings of 1.65c a share for the previous year.
Chairman Dave Harington says profit was affected by the discontinuation of Beget Connect - the former Ianitor business acquired in January last year - as well as the write-off of the investment in Zest Interactive.
"The effect of the write-offs resulted in an impairment loss of R15.68 million for the year under review," he says.
Revenue fell from R4.75 million to R4.26 million, while an operating profit of R2.24 million compares with a previous profit of R3.51 million.
Beget incurred an attributable loss of R13.69 million, compared with a profit of R2.13 million a year earlier.
The balance sheet records current liabilities of R2.63 million against current assets of R0.96 million.
Harington says the group has developed three new products to be launched in the first half of this year.
"The board is very optimistic in respect of 2004, since significant orders for the new products have already been placed for immediate delivery."
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