Snakk Media shares slide as loss widens in strategy to chase Asian sales growth

Fri, 13 Jun 2014

By Suze Metherell June 13 (BusinessDesk) - Shares in Snakk Media fell 10 percent after the company, which matches advertisers with app users and social media, said annual sales nearly doubled, while its loss widened 62 percent as the company chased growth in Asia. The loss widened to $1.89 million in the year ended March 31, from $1.16 million a year earlier, the Auckland-based company said in a statement. Sales rose to $7.1 million from $3.7 million, as direct media more than doubled to $4.18 million. Operating and staff expenses rose to...

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