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Grand Central Enterprises Q3 loss widens YOY

Grand Central Enterprises Bhd. said its normalized net income for the third quarter amounted to a loss of 609,500 ringgits, compared with a loss of 238,630 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 fell to negative 9.1% from negative 3.3% in the year-earlier period.

Total revenue declined 7.8% year over year to 6.7 million ringgits from 7.3 million ringgits, and total operating expenses totaled 7.7 million ringgits, compared with 7.6 million ringgits in the prior-year period.

Reported net income came to a loss of 948,000 ringgits, or a loss of 0 sen per share, compared to a loss of 441,000 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Nov. 9, US$1 was equivalent to 4.39 ringgits.