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Landmarks Bhd. swings to loss in Q3

Landmarks Berhad said its third-quarter normalized net income amounted to a loss of 8.9 million ringgits, compared with income of 833,130 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 fell to negative 12.7% from 5.4% in the year-earlier period.

Total revenue grew 42.4% year over year to 21.9 million ringgits from 15.4 million ringgits, and total operating expenses rose year over year to 37.6 million ringgits from 13.9 million ringgits.

Reported net income came to a loss of 14.5 million ringgits, or a loss of 3 sen per share, compared to income of 384,650 ringgits, or 0 sen per share, in the year-earlier period.

As of Nov. 17, US$1 was equivalent to 4.38 ringgits.