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SKH Consortium fiscal Q3 loss widens YOY

Vortex Consolidated Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of 2.5 million ringgits, compared with a loss of 1.1 million ringgits in the third quarter ended Sept. 30, 2015.

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

The normalized profit margin fell to negative 6.4% from negative 3.6% in the year-earlier period.

Total revenue increased 31.8% year over year to 39.0 million ringgits from 29.6 million ringgits, and total operating expenses rose 37.0% on an annual basis to 43.2 million ringgits from 31.5 million ringgits.

Reported net income came to a loss of 4.2 million ringgits, or a loss of 1 sen per share, compared to a loss of 1.8 million ringgits, or a loss of 0 sen per share, in the third quarter ended Sept. 30, 2015.

As of Feb. 25, US$1 was equivalent to 4.22 ringgits.