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Sanbumi Holdings fiscal Q1 loss narrows YOY

Sanbumi Holdings Bhd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 1.0 million ringgits, compared with a loss of 1.6 million 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 increased to negative 9.0% from negative 24.3% in the year-earlier period.

Total revenue rose 76.1% on an annual basis to 11.3 million ringgits from 6.4 million ringgits, and total operating expenses increased 33.4% on an annual basis to 13.1 million ringgits from 9.8 million ringgits.

Reported net income came to a loss of 1.6 million ringgits, or a loss of 1 sen per share, compared to a loss of 2.5 million ringgits, or a loss of 1 sen per share, in the prior-year period.

As of Aug. 21, US$1 was equivalent to 4.16 ringgits.