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Compugates Holdings Q2 loss narrows YOY

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Capital Markets View – January 2021


Compugates Holdings Q2 loss narrows YOY

Compugates Holdings Berhad said its second-quarter normalized net income came to a loss of 480,250 ringgits, compared with a loss of 652,750 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 climbed to negative 2.0% from negative 2.3% in the year-earlier period.

Total revenue fell 15.7% year over year to 23.8 million ringgits from 28.3 million ringgits, and total operating expenses fell 19.1% from the prior-year period to 25.2 million ringgits from 31.1 million ringgits.

Reported net income came to a loss of 886,000 ringgits, or a loss of 0 sen per share, compared to a loss of 1.6 million ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Aug. 29, US$1 was equivalent to 4.04 ringgits.