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Golden Land fiscal Q2 loss widens YOY

Golden Land Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was a loss of 4.8 million ringgits, compared with a loss of 1.3 million 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 dropped to negative 80.1% from negative 41.4% in the year-earlier period.

Total revenue grew 91.2% on an annual basis to 6.0 million ringgits from 3.2 million ringgits, and total operating expenses increased on an annual basis to 13.4 million ringgits from 4.1 million ringgits.

Reported net income came to a loss of 8.6 million ringgits, or a loss of 4 sen per share, compared to a loss of 2.3 million ringgits, or a loss of 1 sen per share, in the prior-year period.

As of Feb. 25, US$1 was equivalent to 4.22 ringgits.