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Kuantan Flour Mills fiscal Q2 loss narrows YOY

Kuantan Flour Mills Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 2 Malaysian sen per share, compared with a loss of 2 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.1 million ringgits, compared with a loss of 1.2 million ringgits in the year-earlier period.

The normalized profit margin dropped to negative 13.2% from negative 12.1% in the year-earlier period.

Total revenue declined 16.0% year over year to 8.3 million ringgits from 9.8 million ringgits, and total operating expenses declined 15.0% on an annual basis to 9.9 million ringgits from 11.6 million ringgits.

Reported net income totaled a loss of 1.7 million ringgits, or a loss of 3 sen per share, compared to a loss of 1.9 million ringgits, or a loss of 3 sen per share, in the prior-year period.

As of Nov. 25, US$1 was equivalent to 3.35 ringgits.