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FSBM Holdings fiscal Q3 loss widens YOY

FSBM Holdings Berhad said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 392,000 ringgits, compared with a loss of 63,000 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 declined to negative 21.0% from negative 1.8% in the year-earlier period.

Total revenue decreased 46.6% on an annual basis to 1.9 million ringgits from 3.5 million ringgits, and total operating expenses decreased 31.6% on an annual basis to 2.5 million ringgits from 3.6 million ringgits.

Reported net income came to a loss of 626,000 ringgits, or a loss of 0 sen per share, compared to a loss of 117,000 ringgits, or a loss of 0 sen per share, in the prior-year period.

As of May 25, US$1 was equivalent to 4.10 ringgits.