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DutaLand fiscal Q2 loss narrows YOY

DutaLand Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to a loss of 1.6 million ringgits, compared with a loss of 2.2 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 climbed to negative 15.2% from negative 18.9% in the year-earlier period.

Total revenue declined 9.4% year over year to 10.6 million ringgits from 11.7 million ringgits, and total operating expenses came to 13.9 million ringgits, compared with 14.0 million ringgits in the prior-year period.

Reported net income came to a loss of 2.4 million ringgits, or a loss of 0 sen per share, compared to a loss of 4.1 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Feb. 24, US$1 was equivalent to 4.24 ringgits.