SYDNEY (Dow Jones)--ERG Group (ERG.AU), an Australian smart card company, Friday
reported a A$43 million net loss for the first half ended Dec. 31, 2003, narrowing from a
loss of A$124.9 million a year earlier.
The latest result, struck on a 22% rise in revenue to A$147.6 million, included
writedowns and provisions totaling A$36.2 million.
No dividend was declared.
"The net result....is below where we would like it to be," said Chief Executive
Allan Sullivan.
However, the company plans to turn its performance around as soon as possible, and
will work to reduce overheads and cost of goods sold, he said.
SYDNEY (Dow Jones)--ERG Group (ERG.AU), an Australian smart card...
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