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ChasWood Resources H2 loss widens YOY

ChasWood Resources Holdings Ltd. said its normalized net income for the second half amounted to a loss of 4.6 million ringgits, compared with a loss of 850,380 ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue climbed 16.3% on an annual basis to 87.4 million ringgits from 75.2 million ringgits, and total operating expenses rose 22.6% year over year to 93.1 million ringgits from 76.0 million ringgits.

Reported net income came to a loss of 10.6 million ringgits, or a loss of 5 sen per share, compared to a loss of 15.0 million ringgits, or a loss of 7 sen per share, in the year-earlier period.

For the year, the company's normalized net income totaled 6.0 million ringgits, compared with income of 1.8 million ringgits in the prior year.

Full-year total revenue increased 7.7% on an annual basis to 166.5 million ringgits from 154.7 million ringgits, and total operating expenses increased 15.6% year over year to 173.7 million ringgits from 150.3 million ringgits.

The company said reported net income totaled a loss of 13.8 million ringgits, or a loss of 6 sen per share, in the full year, compared with a loss of 11.8 million ringgits, or a loss of 5 sen per share, the prior year.

As of April 11, US$1 was equivalent to 3.88 ringgits.