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Golden Land fiscal Q3 loss widens YOY

Golden Land Bhd. said its normalized net income for the fiscal third quarter ended March 31 was a loss of 3.3 million ringgits, compared with a loss of 329,630 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 increased to 5,534.9% from negative 4.7% in the year-earlier period.

Total revenue declined 86.8% on an annual basis to 928,000 ringgits from 7.0 million ringgits, and total operating expenses climbed 49.5% year over year to 9.4 million ringgits from 6.3 million ringgits.

Reported net income totaled 81.4 million ringgits, or 38 sen per share, compared to a loss of 1.6 million ringgits, or a loss of 1 sen per share, in the prior-year period.

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