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Scope Industries fiscal Q3 loss narrows YOY

Scope Industries Berhad said its normalized net income for the fiscal third quarter ended March 31 was a loss of 331,380 ringgits, compared with a loss of 1.2 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 increased to negative 7.7% from negative 35.1% in the year-earlier period.

Total revenue increased 30.3% on an annual basis to 4.3 million ringgits from 3.3 million ringgits, and total operating expenses declined 13.6% year over year to 4.7 million ringgits from 5.4 million ringgits.

Reported net income totaled a loss of 745,000 ringgits, or a loss of 0 sen per share, compared to a loss of 2.1 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of May 25, US$1 was equivalent to 4.10 ringgits.