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Malayan United Industries Q1 loss narrows YOY

Malayan United Industries Bhd. said its normalized net income for the first quarter was a loss of 2.3 million ringgits, compared with a loss of 2.6 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 increased to negative 2.1% from negative 2.3% in the year-earlier period.

Total revenue decreased year over year to 106.7 million ringgits from 109.4 million ringgits, and total operating expenses decreased on an annual basis to 101.3 million ringgits from 102.9 million ringgits.

Reported net income came to a loss of 14.4 million ringgits, or a loss of 0 sen per share, compared to a loss of 2.9 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of May 27, US$1 was equivalent to 3.65 ringgits.