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Borneo Aqua Harvest fiscal Q3 loss narrows YOY

Borneo Aqua Harvest Berhad said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 664,380 ringgits, compared with a loss of 870,000 ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to negative 13.3% from negative 23.7% in the year-earlier period.

Total revenue rose 35.7% year over year to 5.0 million ringgits from 3.7 million ringgits, and total operating expenses grew 21.0% from the prior-year period to 5.8 million ringgits from 4.8 million ringgits.

Reported net income came to a loss of 1.1 million ringgits, or a loss of 0 sen per share, compared to a loss of 1.4 million ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Feb. 13, US$1 was equivalent to 3.56 ringgits.