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Gopeng swings to loss in Q3

Gopeng Bhd. said its third-quarter normalized net income was a loss of 814,870 ringgits, compared with income of 596,330 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 fell to negative 33.5% from 22.4% in the year-earlier period.

Total revenue fell 8.4% on an annual basis to 2.4 million ringgits from 2.7 million ringgits, and total operating expenses grew on an annual basis to 3.7 million ringgits from 1.7 million ringgits.

Reported net income came to a loss of 1.3 million ringgits, or a loss of 1 sen per share, compared to income of 888,400 ringgits, or 1 sen per share, in the year-earlier period.

As of Nov. 25, US$1 was equivalent to 4.21 ringgits.