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Sanbumi Holdings fiscal Q2 loss narrows YOY

Sanbumi Holdings Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 981,750 ringgits, compared with a loss of 2.0 million 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 rose to negative 9.3% from negative 27.9% in the year-earlier period.

Total revenue rose 44.3% year over year to 10.5 million ringgits from 7.3 million ringgits, and total operating expenses climbed 22.8% from the prior-year period to 12.1 million ringgits from 9.9 million ringgits.

Reported net income came to a loss of 1.6 million ringgits, or a loss of 1 sen per share, compared to a loss of 3.3 million ringgits, or a loss of 2 sen per share, in the year-earlier period.

As of Nov. 20, US$1 was equivalent to 4.27 ringgits.