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Astral Asia swings to loss in Q3

Astral Asia Berhad said its third-quarter normalized net income amounted to a loss of 79,130 ringgits, compared with income of 1.0 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 1.0% from 13.0% in the year-earlier period.

Total revenue increased on an annual basis to 7.8 million ringgits from 7.7 million ringgits, and total operating expenses increased 37.5% year over year to 8.3 million ringgits from 6.0 million ringgits.

Reported net income came to a loss of 916,000 ringgits, or a loss of 0 sen per share, compared to income of 1.3 million ringgits, or 0 sen per share, in the year-earlier period.

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