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Harn Len Q2 loss widens YOY

Harn Len Corp. Bhd said its second-quarter normalized net income came to a loss of 4.1 million ringgits, compared with a loss of 1.7 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 dropped to negative 7.6% from negative 3.2% in the year-earlier period.

Total revenue grew year over year to 53.9 million ringgits from 53.2 million ringgits, and total operating expenses climbed 7.2% from the prior-year period to 60.1 million ringgits from 56.0 million ringgits.

Reported net income came to a loss of 6.4 million ringgits, or a loss of 4 sen per share, compared to a loss of 4.1 million ringgits, or a loss of 2 sen per share, in the year-earlier period.

As of Aug. 25, US$1 was equivalent to 4.03 ringgits.