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Eng Kah swings to loss in Q2

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Eng Kah swings to loss in Q2

Eng Kah Corp. Bhd. said its normalized net income for the second quarter was a loss of 6,880 ringgits, compared with income of 529,380 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 0.1% from 3.7% in the year-earlier period.

Total revenue declined 11.5% year over year to 12.5 million ringgits from 14.2 million ringgits, and total operating expenses declined 9.4% from the prior-year period to 12.4 million ringgits from 13.7 million ringgits.

Reported net income came to a loss of 155,670 ringgits, or a loss of 0 sen per share, compared to income of 687,230 ringgits, or 1 sen per share, in the prior-year period.

As of Aug. 18, US$1 was equivalent to 4.29 ringgits.