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Myanmar and Vietnam consumer business investor Myanmar Strategic booked a fall-year loss after expenses offset a rise in revenue.
The company said the state of emergency, declared by the Myanmar military in February 2021, was expected impact its operational and financial prospects there.
Pre-tax losses for the 18-month period ended 30 September were $8.7 million, compared to losses for the 12 months to 31 March 2020 of $3.3 million.
Losses widened due to $3.4 million loss allowances on trade and other receivables and $0.2 million in transaction costs for the acquisition of WSE Vietnam.
'As at the date of this report, the state of emergency remains in place and management cannot fully project the full extent on the group's operating and financial performance going forward,' the company said.
'At the date of this report all boutique hostels are closed while the group's education businesses in Myanmar are selling and delivering educational content online.'
'The diversification of the group's operations between Myanmar and Vietnam should help mitigate the overall Covid-19 and single-country exposure of the group.'
At 9:23am: (LON:SHWE) Myanmar Strategic Holdings share price was 0p at 10.25p