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Negri Sembilan Oil Palms Q1 loss widens YOY

Negri Sembilan Oil Palms Berhad said its first-quarter normalized net income amounted to a loss of 1.1 million ringgits, compared with a loss of 55,130 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 5.9% from negative 0.3% in the year-earlier period.

Total revenue grew year over year to 18.6 million ringgits from 17.8 million ringgits, and total operating expenses grew from the prior-year period to 20.3 million ringgits from 19.7 million ringgits.

Reported net income came to a loss of 2.2 million ringgits, or a loss of 3 sen per share, compared to income of 230,000 ringgits, or 0 sen per share, in the prior-year period.

As of May 26, US$1 was equivalent to 4.06 ringgits.