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Utusan Melayu (Malaysia) Q1 loss widens 32.9% YOY

Utusan Melayu (Malaysia) Bhd. said its first-quarter normalized net income amounted to a loss of 15 Malaysian sen per share, compared with a loss of 11 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 16.4 million ringgits, compared with a loss of 12.3 million ringgits in the prior-year period.

The normalized profit margin dropped to negative 34.3% from negative 20.4% in the year-earlier period.

Total revenue declined 21.1% on an annual basis to 47.7 million ringgits from 60.5 million ringgits, and total operating expenses fell 8.2% year over year to 71.4 million ringgits from 77.8 million ringgits.

Reported net income came to a loss of 26.3 million ringgits, or a loss of 24 sen per share, compared to a loss of 20.0 million ringgits, or a loss of 18 sen per share, in the prior-year period.

As of May 31, US$1 was equivalent to 4.11 ringgits.