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Asia Media Group Q1 loss narrows YOY

Asia Media Group Berhad said its first-quarter normalized net income amounted to a loss of 835,000 ringgits, compared with a loss of 3.5 million ringgits in the prior-year period.

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

The normalized profit margin rose to negative 33.8% from negative 97.5% in the year-earlier period.

Total revenue declined 30.6% year over year to 2.5 million ringgits from 3.6 million ringgits, and total operating expenses decreased 57.3% from the prior-year period to 4.0 million ringgits from 9.3 million ringgits.

Reported net income came to a loss of 1.4 million ringgits, or a loss of 1 sen per share, compared to a loss of 5.6 million ringgits, or a loss of 2 sen per share, in the prior-year period.

As of May 23, US$1 was equivalent to 4.09 ringgits.