Photon (ASX:PGA) swings to $87.5m loss

Photon (ASX:PGA) swings to $87.5m loss

Marketing communications company Photon Group (ASX:PGA) has swung to an $87.5 million loss due to one-off costs and a decline in earnings for its internet and e-commerce division.

The company, which reported a $38 million profit in FY09, said its normalised ebitda fell from $93 million to $75.1 million as a result of the unit's declining sales.

Currency movements also contributed to the loss, Photon said.

PGA shares are today trading 9.09% lower at $0.100.

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