viewMilestone Group PLC

Milestone Group focused on revenue generation


Digital media firm Milestone (LON:MSG) said each of its businesses is showing revenue potential as it posted a pre-tax loss in the year to end September, 2014.

Chief executive and interim chairman Deborah White told investors: "We are pleased with the developments during the period and particularly since the period end.

"Each of the separate business offerings has shown the beginnings of their revenue potential with growing interest being shown from an ever-expanding customer base and further new revenues visible in the near future."

The Passion Project, aimed at combating youth unemployment, officially launched on December 10 last year and the potential for it to be expanded has been proved, said White.

It has now started to attract fee paying corporate members to its network. They can access Milestone's range of products and services to help support and deliver their Corporate Social Responsibility (CSR) activities.

The signing up of fee paying members as well as the first sponsor - trading firm CWM FX - unveiled last month,  demonstrates the immediate commercial viability of the project, said the group.

For the 12 months to end September, the loss before tax was £1.071mln compared to £980,570 in 2013.

Milestone said it continues to carefully manage its working capital position and will need to raise further monies through subscriptions for new shares in the short term to continue to support activities until they are fully revenue generating.

The strategy is to seek to raise funds on a basis that is fair to all, it said.

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