The directors of The Limners and Bards (The LAB) are reporting a net loss after tax of $13.7 million for the quarter ended January 31 this year.
The loss was recorded on revenues of $171 million.
This represents a significant downturn compared to the same period last year, when the company posted a net profit of $22 million on revenues of $286.1 million.
Despite the weaker performance, the directors say the company remains focused on executing its strategy with emphasis on revenue diversification, cost control and expanded use of technology amid ongoing challenges.
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