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Borneo Aqua Harvest fiscal Q2 loss widens YOY

Borneo Aqua Harvest Berhad said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 1.2 million ringgits, compared with a loss of 431,880 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 32.6% from negative 5.9% in the year-earlier period.

Total revenue fell 49.6% on an annual basis to 3.7 million ringgits from 7.4 million ringgits, and total operating expenses decreased 30.6% on an annual basis to 5.4 million ringgits from 7.7 million ringgits.

Reported net income came to a loss of 1.9 million ringgits, or a loss of 0 sen per share, compared to a loss of 691,000 ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Nov. 25, US$1 was equivalent to 3.35 ringgits.