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Sanbumi Holdings fiscal Q2 loss widens YOY

Sanbumi Holdings Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 2.0 million ringgits, compared with a loss of 72,380 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 dropped to negative 27.9% from negative 0.3% in the year-earlier period.

Total revenue fell 69.1% on an annual basis to 7.3 million ringgits from 23.6 million ringgits, and total operating expenses fell 59.7% on an annual basis to 9.9 million ringgits from 24.5 million ringgits.

Reported net income totaled a loss of 3.3 million ringgits, or a loss of 2 sen per share, compared to a loss of 478,000 ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Nov. 20, US$1 was equivalent to 3.37 ringgits.