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Brahim's Holdings swings to loss in Q3

Brahim's Holdings Bhd. said its third-quarter normalized net income came to a loss of 4.3 million ringgits, compared with income of 1.7 million 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 dropped to negative 6.6% from 1.9% in the year-earlier period.

Total revenue fell 27.7% on an annual basis to 64.9 million ringgits from 89.7 million ringgits, and total operating expenses declined 11.6% from the prior-year period to 72.6 million ringgits from 82.1 million ringgits.

Reported net income came to a loss of 8.6 million ringgits, or a loss of 4 sen per share, compared to income of 1.0 million ringgits, or 0 sen per share, in the year-earlier period.

As of Nov. 24, US$1 was equivalent to 4.22 ringgits.