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Mary Chia Holdings fiscal H2 loss widens 42.2% YOY

Mary Chia Holdings Ltd. said its normalized net income for the fiscal second half ended March 31 was a loss of S$1.5 million, compared with a loss of S$1.1 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue fell 26.0% year over year to S$7.3 million from S$9.8 million, and total operating expenses grew year over year to S$9.1 million from S$8.8 million.

Reported net income came to a loss of S$2.3 million, or a loss of 1 cents per share, compared to income of S$1.7 million, or 1 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled S$2.2 million, compared with a loss of S$-1.4 million in the prior year.

Full-year total revenue decreased 14.1% on an annual basis to S$15.1 million from S$17.6 million, and total operating expenses increased on an annual basis to S$17.2 million from S$16.4 million.

The company said reported net income totaled a loss of S$3.3 million, or a loss of 2 cents per share, in the full year, compared with income of S$1.3 million, or 1 cents per share, the prior year.

As of July 9, US$1 was equivalent to S$1.35.