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CNI Holdings Q3 loss narrows YOY

CNI Holdings Berhad said its normalized net income for the third quarter amounted to a loss of 449,000 ringgits, compared with a loss of 682,000 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 2.0% from negative 3.1% in the year-earlier period.

Total revenue totaled 22.3 million ringgits, compared with 22.2 million ringgits in the year-earlier period, and total operating expenses rose year over year to 24.7 million ringgits from 23.6 million ringgits.

Reported net income came to a loss of 920,000 ringgits, or a loss of 0 sen per share, compared to a loss of 1.7 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Nov. 26, US$1 was equivalent to 4.23 ringgits.