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Kretam Holdings swings to loss in Q3

Kretam Holdings Bhd. said its third-quarter normalized net income amounted to a loss of 4.1 million ringgits, compared with income of 3.9 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 dropped to negative 3.7% from 3.7% in the year-earlier period.

Total revenue rose 6.9% year over year to 111.8 million ringgits from 104.6 million ringgits, and total operating expenses grew 13.9% from the prior-year period to 111.7 million ringgits from 98.0 million ringgits.

Reported net income came to a loss of 8.1 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 year-earlier period.

As of Nov. 23, US$1 was equivalent to 4.28 ringgits.