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Yong Tai fiscal Q2 loss widens 61.9% YOY

Yong Tai Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was a loss of 2 Malaysian sen per share, compared with a loss of 1 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 871,250 ringgits, compared with a loss of 538,130 ringgits in the prior-year period.

The normalized profit margin climbed to negative 1.8% from negative 3.1% in the year-earlier period.

Total revenue climbed 42.7% on an annual basis to 25.2 million ringgits from 17.6 million ringgits, and total operating expenses rose 44.6% from the prior-year period to 26.2 million ringgits from 18.1 million ringgits.

Reported net income totaled a loss of 1.5 million ringgits, or a loss of 4 sen per share, compared to a loss of 818,000 ringgits, or a loss of 2 sen per share, in the prior-year period.

As of Feb. 16, US$1 was equivalent to 3.58 ringgits.