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Sanbumi Holdings fiscal Q3 loss narrows YOY

Sanbumi Holdings Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to a loss of 829,880 ringgits, compared with a loss of 1.7 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 climbed to negative 6.1% from negative 17.4% in the year-earlier period.

Total revenue increased 40.8% year over year to 13.5 million ringgits from 9.6 million ringgits, and total operating expenses grew 20.0% from the prior-year period to 14.9 million ringgits from 12.5 million ringgits.

Reported net income totaled a loss of 1.3 million ringgits, or a loss of 1 sen per share, compared to a loss of 2.7 million ringgits, or a loss of 2 sen per share, in the year-earlier period.

As of Feb. 26, US$1 was equivalent to 4.20 ringgits.