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Grand Central Enterprises Q2 loss widens 21.0% YOY

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Grand Central Enterprises Q2 loss widens 21.0% YOY

Grand Central Enterprises Bhd. said its normalized net income for the second quarter was a loss of 934,380 ringgits, compared with a loss of 772,380 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 declined to negative 14.8% from negative 11.9% in the year-earlier period.

Total revenue fell year over year to 6.3 million ringgits from 6.5 million ringgits, and total operating expenses came to 7.8 million ringgits, compared with 7.8 million ringgits in the year-earlier period.

Reported net income came to a loss of 1.5 million ringgits, or a loss of 1 sen per share, compared to a loss of 1.2 million ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of Aug. 9, US$1 was equivalent to 4.29 ringgits.