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Grand Central Enterprises Q2 loss widens YOY

Grand Central Enterprises Bhd. said its normalized net income for the second quarter amounted to a loss of 772,380 ringgits, compared with a loss of 162,250 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 declined to negative 11.9% from negative 2.1% in the year-earlier period.

Total revenue declined 16.8% year over year to 6.5 million ringgits from 7.8 million ringgits, and total operating expenses declined year over year to 7.8 million ringgits from 8.1 million ringgits.

Reported net income totaled a loss of 1.2 million ringgits, or a loss of 1 sen per share, compared to a loss of 465,000 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Aug. 9, US$1 was equivalent to 4.02 ringgits.