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MESB Bhd. fiscal Q1 loss narrows YOY

MESB Bhd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 100,380 ringgits, compared with a loss of 443,880 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 climbed to negative 1.0% from negative 2.4% in the year-earlier period.

Total revenue decreased on an annual basis to 17.6 million ringgits from 18.2 million ringgits, and total operating expenses declined from the prior-year period to 18.2 million ringgits from 18.9 million ringgits.

Reported net income totaled a loss of 234,000 ringgits, or a loss of 0 sen per share, compared to a loss of 721,000 ringgits, or a loss of 1 sen per share, in the prior-year period.

As of Aug. 25, US$1 was equivalent to 4.19 ringgits.