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Sanbumi Holdings fiscal Q4 loss narrows YOY

Sanbumi Holdings Bhd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 2 Malaysian sen per share, compared with a loss of 6 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 a loss of 3.6 million ringgits, compared with a loss of 10.0 million ringgits in the prior-year period.

The normalized profit margin rose to negative 31.9% from negative 76.4% in the year-earlier period.

Total revenue fell 28.4% on an annual basis to 9.4 million ringgits from 13.1 million ringgits, and total operating expenses declined 24.1% on an annual basis to 6.9 million ringgits from 9.1 million ringgits.

Reported net income totaled a loss of 4.7 million ringgits, or a loss of 3 sen per share, compared to a loss of 14.2 million ringgits, or a loss of 8 sen per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 5 sen per share, compared with a loss of 7 sen per share in the prior year.

Normalized net income was a loss of 8.9 million ringgits, compared with a loss of 12.2 million ringgits in the prior year.

Full-year total revenue decreased 50.5% year over year to 32.7 million ringgits from 66.1 million ringgits, and total operating expenses decreased 42.9% on an annual basis to 39.1 million ringgits from 68.5 million ringgits.

The company said reported net income came to a loss of 13.1 million ringgits, or a loss of 8 sen per share, in the full year, compared with a loss of 16.8 million ringgits, or a loss of 10 sen per share, the prior year.

As of July 30, US$1 was equivalent to 3.82 ringgits.