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Borneo Aqua Harvest fiscal Q1 loss narrows YOY

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Borneo Aqua Harvest fiscal Q1 loss narrows YOY

Borneo Aqua Harvest Berhad said its normalized net income for the fiscal first quarter ended June 30 was a loss of 507,500 ringgits, compared with a loss of 1.1 million 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 increased to negative 15.4% from negative 51.6% in the year-earlier period.

Total revenue grew 49.6% year over year to 3.3 million ringgits from 2.2 million ringgits, and total operating expenses increased from the prior-year period to 3.9 million ringgits from 3.7 million ringgits.

Reported net income came to a loss of 812,000 ringgits, or a loss of 0 sen per share, compared to a loss of 1.8 million ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Aug. 27, US$1 was equivalent to 4.19 ringgits.