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Grand Central Enterprises Q1 loss narrows YOY

Grand Central Enterprises Bhd. said its first-quarter normalized net income was a loss of 389,750 ringgits, compared with a loss of 685,750 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 increased to negative 5.9% from negative 11.2% in the year-earlier period.

Total revenue grew 8.0% year over year to 6.6 million ringgits from 6.1 million ringgits, and total operating expenses came to 7.2 million ringgits, compared with 7.2 million ringgits in the prior-year period.

Reported net income totaled a loss of 821,000 ringgits, or a loss of 0 sen per share, compared to a loss of 1.2 million ringgits, or a loss of 1 sen per share, in the prior-year period.

As of May 6, US$1 was equivalent to 3.56 ringgits.