Global Oriental Berhad Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2015
For the quarter, the group registered a revenue of MYR 21.7 million as compared to MYR 97.3 million recorded in the preceding year corresponding quarter. Lower revenue was mainly attributable to lower revenue recognition from da:men mixed development project in USJ, Subang Jaya which is near completion and completion of Equator project in Seri Kembangan in the preceding year corresponding quarter. The group recorded loss before tax of MYR 20.9 million for the current year quarter under review as compared to pre-tax profit of MYR 13.5 million in the preceding year corresponding quarter. The decrease was mainly due to lower profit contribution from da:men and development projects in Seri Kembangan and losses occurred in the food & beverage division. Basic loss per share was 4.66 sen against earnings of 2.34 sen a year ago. Loss from operations was MYR 18.89 million compared to profit of MYR 15.34 million a year ago. Loss attributable to equity holders of the company was MYR 21.18 million compared to profit of MYR 5.41 million a year ago.