Golden Land Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 2 Malaysian sen per share, a decrease of 17.7% from 2 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 3.4 million ringgits, a decline of 17.6% from 4.1 million ringgits in the prior-year period.
The normalized profit margin fell to negative 41.4% from 8.4% in the year-earlier period.
Total revenue declined 16.5% year over year to 41.1 million ringgits from 49.2 million ringgits, and total operating expenses decreased 17.1% on an annual basis to 34.1 million ringgits from 41.1 million ringgits.
Reported net income decreased 15.7% from the prior-year period to 3.5 million ringgits, or 2 sen per share, from 4.2 million ringgits, or 2 sen per share.
As of Feb. 25, US$1 was equivalent to 3.60 ringgits.
