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Borneo Aqua Harvest fiscal Q3 loss widens 83.5% YOY

Borneo Aqua Harvest Berhad said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was a loss of 1.2 million ringgits, compared with a loss of 664,380 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 24.7% from negative 13.3% in the year-earlier period.

Total revenue came to 4.9 million ringgits, compared with 5.0 million ringgits in the year-earlier period, and total operating expenses climbed 15.5% from the prior-year period to 6.7 million ringgits from 5.8 million ringgits.

Reported net income came to a loss of 2.0 million ringgits, or a loss of 0 sen per share, compared to a loss of 1.1 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Feb. 25, US$1 was equivalent to 4.22 ringgits.