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PLS Plantations fiscal Q2 loss widens 69.7% YOY

PLS Plantations Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 2.5 million ringgits, compared with a loss of 1.5 million ringgits in the prior-year period.

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

The normalized profit margin declined to negative 28.6% from negative 11.3% in the year-earlier period.

Total revenue decreased 32.7% on an annual basis to 8.7 million ringgits from 12.9 million ringgits, and total operating expenses declined 10.4% year over year to 14.8 million ringgits from 16.5 million ringgits.

Reported net income totaled a loss of 3.9 million ringgits, or a loss of 1 sen per share, compared to a loss of 2.4 million ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of Nov. 30, US$1 was equivalent to 4.25 ringgits.