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Cheetah Holdings swings to loss in fiscal Q3

Cheetah Holdings Bhd. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 842,500 ringgits, compared with income of 1.0 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 fell to negative 2.6% from 3.2% in the year-earlier period.

Total revenue increased on an annual basis to 33.0 million ringgits from 31.8 million ringgits, and total operating expenses rose 13.1% year over year to 34.4 million ringgits from 30.4 million ringgits.

Reported net income came to a loss of 1.0 million ringgits, or a loss of 1 sen per share, compared to income of 1.2 million ringgits, or 1 sen per share, in the year-earlier period.

As of May 27, US$1 was equivalent to 3.65 ringgits.