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Goodway Integrated Industries Q3 loss narrows YOY

Goodway Integrated Industries Bhd. said its third-quarter normalized net income amounted to a loss of 119,000 ringgits, compared with a loss of 789,500 ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to negative 0.3% from negative 1.7% in the year-earlier period.

Total revenue declined 9.5% on an annual basis to 43.3 million ringgits from 47.8 million ringgits, and total operating expenses declined 11.4% from the prior-year period to 42.3 million ringgits from 47.7 million ringgits.

Reported net income totaled a loss of 376,000 ringgits, or a loss of 0 sen per share, compared to a loss of 1.5 million ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of Nov. 30, US$1 was equivalent to 4.47 ringgits.