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PCCS Group fiscal Q1 loss narrows YOY

PCCS Group Bhd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 477,380 ringgits, compared with a loss of 5.4 million ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 0.4% from negative 6.4% in the year-earlier period.

Total revenue increased 54.7% on an annual basis to 129.4 million ringgits from 83.6 million ringgits, and total operating expenses increased 40.9% on an annual basis to 130.1 million ringgits from 92.3 million ringgits.

Reported net income totaled a loss of 857,000 ringgits, or a loss of 1 sen per share, compared to a loss of 8.8 million ringgits, or a loss of 15 sen per share, in the year-earlier period.

As of Aug. 21, US$1 was equivalent to 4.16 ringgits.