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TDM Q1 loss narrows YOY

TDM Bhd. said its first-quarter normalized net income was a loss of 1.5 million ringgits, compared with a loss of 4.6 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 increased to negative 1.6% from negative 6.1% in the year-earlier period.

Total revenue rose 29.1% on an annual basis to 97.5 million ringgits from 75.5 million ringgits, and total operating expenses climbed 21.5% on an annual basis to 103.3 million ringgits from 85.0 million ringgits.

Reported net income came to a loss of 2.9 million ringgits, or a loss of 0 sen per share, compared to a loss of 6.9 million ringgits, or a loss of 0 sen per share, in the prior-year period.

As of May 31, US$1 was equivalent to 4.11 ringgits.