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Teck Guan Perdana swings to loss in fiscal Q2

Teck Guan Perdana Bhd. said its normalized net income for the fiscal second quarter ended July 31 amounted to a loss of 4 Malaysian sen per share, compared with 2 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.4 million ringgits, compared with income of 859,380 ringgits in the prior-year period.

The normalized profit margin fell to negative 3.2% from 2.1% in the year-earlier period.

Total revenue increased 12.7% year over year to 45.7 million ringgits from 40.6 million ringgits, and total operating expenses climbed 23.8% year over year to 46.7 million ringgits from 37.7 million ringgits.

Reported net income came to a loss of 1.9 million ringgits, or a loss of 5 sen per share, compared to income of 1.3 million ringgits, or 3 sen per share, in the prior-year period.

As of Sept. 26, US$1 was equivalent to 3.26 ringgits.