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Landmarks Bhd. swings to loss in Q1

Landmarks Berhad said its first-quarter normalized net income was a loss of 273,750 ringgits, compared with income of 1.7 million 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 1.5% from 9.5% in the year-earlier period.

Total revenue grew 9.6% year over year to 19.3 million ringgits from 17.6 million ringgits, and total operating expenses climbed 19.9% on an annual basis to 20.2 million ringgits from 16.8 million ringgits.

Reported net income came to a loss of 1.5 million ringgits, or a loss of 0 sen per share, compared to income of 1.6 million ringgits, or 0 sen per share, in the prior-year period.

As of May 22, US$1 was equivalent to 3.60 ringgits.