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Scope Industries fiscal Q2 loss widens 20.4% YOY

Scope Industries Berhad said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was a loss of 382,000 ringgits, compared with a loss of 317,250 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 fell to negative 7.4% from negative 7.0% in the year-earlier period.

Total revenue increased 13.3% on an annual basis to 5.2 million ringgits from 4.6 million ringgits, and total operating expenses grew 13.7% year over year to 5.6 million ringgits from 4.9 million ringgits.

Reported net income totaled a loss of 454,440 ringgits, or a loss of 0 sen per share, compared to a loss of 406,000 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Feb. 29, US$1 was equivalent to 4.21 ringgits.