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Chin Teck Plantations fiscal Q2 loss narrows YOY

Chin Teck Plantations Bhd. said its normalized net income for the fiscal second quarter ended Feb. 29 amounted to a loss of 45,000 ringgits, compared with a loss of 171,880 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 increased to negative 0.0% from negative 0.9% in the year-earlier period.

Total revenue climbed 25.2% on an annual basis to 24.1 million ringgits from 19.2 million ringgits, and total operating expenses increased 27.9% from the prior-year period to 25.5 million ringgits from 20.0 million ringgits.

Reported net income came to 5,000 ringgits, or 0 sen per share, compared to a loss of 486,000 ringgits, or a loss of 1 sen per share, in the prior-year period.

As of April 29, US$1 was equivalent to 3.91 ringgits.