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Swish reviving businesses after administration

Swish reviving businesses after administration

Digital media company Swish Group (ASX:SWG) is working to re-establish its presence in the business areas it operated in prior to its brief stint in administration.

In a letter to shareholders, non-executive chairman Andrew Plympton said the company was moving to resurrect its internet TV, digital content, digital signage and sales and marketing businesses.

A decision on whether to continue other businesses is under consideration, he said.

Swish Group entered administration and was delisted from the ASX in August, but a recapitalisation proposal from December, which included a plan to buy the online internet search and advertising assets of Planet W, was enacted in response.

“The company is now a significantly leaner operation from that which existed prior to the Administration,” Plympton said.

The company swung to a profit of $818,300 in FY10, but revenue fell to $879,000 from $5.5 million.

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Tags digital mediaAndrew PlymptonASX:SWGSwish Group

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