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Teck Guan Perdana swings to loss in fiscal Q3

Teck Guan Perdana Bhd. said its normalized net income for the fiscal third quarter ended Oct. 31 came to a loss of 9 Malaysian sen per share, compared with 5 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.6 million ringgits, compared with income of 2.0 million ringgits in the prior-year period.

The normalized profit margin dropped to negative 5.6% from 4.4% in the year-earlier period.

Total revenue climbed 39.2% on an annual basis to 63.8 million ringgits from 45.9 million ringgits, and total operating expenses rose 58.6% year over year to 69.6 million ringgits from 43.9 million ringgits.

Reported net income totaled a loss of 5.2 million ringgits, or a loss of 13 sen per share, compared to income of 1.8 million ringgits, or 5 sen per share, in the prior-year period.

As of Dec. 18, US$1 was equivalent to 3.47 ringgits.