Lifebrandz says it made a bigger net loss of $937,000 in the first quarter of the fiscal year compared to a net loss of $668,000 a year ago.
For the three months ended Oct 31, 2011, revenues fell 3% to $7.82 million from $8.09 million the corresponding period the previous year.
The company said the decrease in sales activities were mainly due to the closure of Lunar Bar and Yue Lounge for refurbishment and revamp during Sept and Oct.
Lower recovery of bad debts and the abolishment of service charge at its outlets contributed to the 86% decline in other income to $18,000 from $125,000 a year ago.
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