Elexir Technology Holdings has reported a headline loss of 0.64c a share for the six months to 29 February, compared with year-earlier interim earnings of 0.18c a share.
CEO James Casey says the main causes of the loss were retrenchments, restructuring and other operational costs.
Revenue fell by 55% from R27.88 million to R12.53 million, while the group incurred an operating loss of R0.61 million against a year-earlier profit of R0.33 million.
An attributable loss of R0.89 million compares with previous earnings of R0.26 million, while a headline loss of R0.92 million was incurred. Last year the group reported headline earnings of R0.26 million.
The balance sheet shows current liabilities of R8.12 million against current assets of R6.46 million. A year earlier, current liabilities of R15.53 million compared with current assets of R9.68 million.
Among other things, Elexir supplies and installs turnkey systems, provides support for the systems and supplies computer systems on an outsource basis.
"Trading conditions remain challenging but management is implementing a repositioning strategy for the group that, if successful, will improve profitability and unlock shareholder value.
The group said last week that it was in talks. It did not disclose any further details.
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