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Olympia Industries Q3 loss widens YOY

Olympia Industries Berhad said its third-quarter normalized net income amounted to a loss of 3.7 million ringgits, compared with a loss of 1.4 million ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 15.1% from negative 4.1% in the year-earlier period.

Total revenue fell 5.6% on an annual basis to 31.8 million ringgits from 33.7 million ringgits, and total operating expenses climbed year over year to 34.0 million ringgits from 33.3 million ringgits.

Reported net income came to a loss of 6.5 million ringgits, or a loss of 1 sen per share, compared to a loss of 1.2 million ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Nov. 29, US$1 was equivalent to 4.46 ringgits.