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Grand Central Enterprises Q3 loss narrows YOY

Grand Central Enterprises Bhd. said its third-quarter normalized net income amounted to a loss of 395,880 ringgits, compared with a loss of 609,500 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 increased to negative 5.6% from negative 9.1% in the year-earlier period.

Total revenue grew 6.3% on an annual basis to 7.1 million ringgits from 6.7 million ringgits, and total operating expenses came to 7.7 million ringgits, compared with 7.7 million ringgits in the prior-year period.

Reported net income totaled a loss of 1.8 million ringgits, or a loss of 1 sen per share, compared to a loss of 948,000 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Nov. 9, US$1 was equivalent to 4.24 ringgits.