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Pinehill Pacific fiscal Q3 loss widens YOY

Pinehill Pacific Bhd. said its normalized net income for the fiscal third quarter ended March 31 came to a loss of 5 Malaysian sen per share, compared with a loss of 1 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 7.8 million ringgits, compared with a loss of 1.7 million ringgits in the prior-year period.

The normalized profit margin dropped to negative 148.0% from negative 31.2% in the year-earlier period.

Total revenue decreased year over year to 5.3 million ringgits from 5.5 million ringgits, and total operating expenses increased 75.8% on an annual basis to 15.0 million ringgits from 8.5 million ringgits.

Reported net income totaled a loss of 12.4 million ringgits, or a loss of 8 sen per share, compared to a loss of 3.7 million ringgits, or a loss of 2 sen per share, in the year-earlier period.

As of May 27, US$1 was equivalent to 4.08 ringgits.