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EKA Noodles Q2 loss narrows YOY

EKA Noodles Bhd. said its normalized net income for the second quarter amounted to a loss of 2 Malaysian sen per share, compared with a loss of 2 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 5.0 million ringgits, compared with a loss of 5.7 million ringgits in the prior-year period.

The normalized profit margin declined to negative 94.8% from negative 38.1% in the year-earlier period.

Total revenue decreased 64.4% on an annual basis to 5.3 million ringgits from 14.9 million ringgits, and total operating expenses declined 44.5% year over year to 12.3 million ringgits from 22.1 million ringgits.

Reported net income totaled a loss of 8.0 million ringgits, or a loss of 3 sen per share, compared to a loss of 9.4 million ringgits, or a loss of 3 sen per share, in the year-earlier period.

As of Aug. 30, US$1 was equivalent to 4.07 ringgits.