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KUALA LUMPUR: Guocoland (Malaysia) Bhd’s net loss widened to RM5.65 million in its third quarter ended March 31, 2010 (3QFY2010) from a loss of RM3.37 million a year earlier despite a 139.26% jump in revenue to RM42.42 million from RM17.73 million.
One of the reasons for the widening net loss was higher finance costs, partly offset by a higher share of profits of associates and jointly controlled entities.
The group posted an operational loss of RM3.4 million versus a loss of RM3.83 million a year earlier. Guocoland did not state the reasons for the operational loss. Loss per share was 0.84 sen versus 0.5 sen a year earlier. No interim dividend was declared.
At pre-tax level, Guocoland said it incurred a loss of RM6.1 million versus a profit of RM400,000 in the preceding quarter ended Dec 31, 2009 due to lower contribution from property development activities.
For the nine months to March 31, 2010, net profit fell 58% to RM2.49 million from RM5.93 million a year earlier, but revenue was higher at RM130.50 million from RM53.81 million. It said revenue was higher due to better contribution from its property development division. Earnings per share shrank to 0.37 sen from 0.88 sen.
At pre-tax level, profit decreased 62% to RM3.06 million from RM7.95 million a year earlier, which the company attributed to the contribution or revaluation surplus from an associated company during the earlier period.
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