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Landmarks Bhd. Q1 loss widens YOY

Landmarks Berhad said its normalized net income for the first quarter was a loss of 3.8 million ringgits, compared with a loss of 286,250 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 15.8% from negative 1.5% in the year-earlier period.

Total revenue increased 23.9% on an annual basis to 23.9 million ringgits from 19.3 million ringgits, and total operating expenses climbed 37.9% year over year to 27.8 million ringgits from 20.2 million ringgits.

Reported net income totaled a loss of 6.6 million ringgits, or a loss of 1 sen per share, compared to a loss of 1.5 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

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