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Rimbunan Sawit Q2 loss narrows YOY

Rimbunan Sawit Bhd. said its normalized net income for the second quarter amounted to a loss of 6.0 million ringgits, compared with a loss of 8.2 million 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 11.7% from negative 19.0% in the year-earlier period.

Total revenue rose 19.3% on an annual basis to 51.7 million ringgits from 43.4 million ringgits, and total operating expenses rose 8.7% year over year to 61.4 million ringgits from 56.5 million ringgits.

Reported net income came to a loss of 8.0 million ringgits, or a loss of 0 sen per share, compared to a loss of 10.0 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Aug. 30, US$1 was equivalent to 4.07 ringgits.