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GPA Holdings swings to loss in fiscal Q1

GPA Holdings Bhd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 526,250 ringgits, compared with income of 85,250 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 1.3% from 0.2% in the year-earlier period.

Total revenue came to 39.0 million ringgits, compared with 39.2 million ringgits in the year-earlier period, and total operating expenses climbed on an annual basis to 41.1 million ringgits from 40.0 million ringgits.

Reported net income came to a loss of 881,000 ringgits, or a loss of 0 sen per share, compared to a loss of 80,000 ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Aug. 27, US$1 was equivalent to 3.15 ringgits.