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Emico Holdings fiscal Q1 loss widens YOY

Emico Holdings Bhd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 158,630 ringgits, compared with a loss of 38,750 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 declined to negative 1.0% from negative 0.3% in the year-earlier period.

Total revenue increased 9.7% on an annual basis to 16.6 million ringgits from 15.2 million ringgits, and total operating expenses grew 10.4% year over year to 16.7 million ringgits from 15.1 million ringgits.

Reported net income came to a loss of 222,000 ringgits, or a loss of 0 sen per share, compared to a loss of 74,000 ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Aug. 28, US$1 was equivalent to 3.15 ringgits.