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CAB Cakaran swings to loss in fiscal Q1

CAB Cakaran Corp. Bhd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to a loss of 1.4 million ringgits, compared with income of 1.2 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 dropped to negative 0.7% from 0.7% in the year-earlier period.

Total revenue climbed 18.3% year over year to 188.0 million ringgits from 158.9 million ringgits, and total operating expenses climbed 22.2% on an annual basis to 190.1 million ringgits from 155.6 million ringgits.

Reported net income came to a loss of 3.2 million ringgits, or a loss of 1 sen per share, compared to income of 1.2 million ringgits, or 0 sen per share, in the year-earlier period.

As of Feb. 27, US$1 was equivalent to 3.61 ringgits.