Talam 1Q net loss RM25.97m vs net profit RM1.56m yr ago

Saturday, June 18, 2011

TALAM Weekly Chart

KUALA LUMPUR: Talam Corp Bhd posted net loss of RM25.97 million in the first quarter ended April 30, 2011 compared with net profit of RM1.56 million a year ago as it was impacted by the high administrative and finance costs totaling RM32.49 million.

It announced on Friday, June 17 that its revenue was RM13.18 million compared with RM23.26 million a year ago due to lower gross profit and other operating income, as well as higher administrative and finance costs.

Its loss per share was 0.72 sen versus earnings per share of 0.06 sen. Its net asset per share was 17 sen.

Talam said administrative and other expenses totalled RM14.94 million while finance costs were RM17.55 million.

When compared with the financial performance in the preceding quarter ended Jan 31, the revenue for the first quarter ended April 30 fell 77% from RM57.83 million. However, the loss before tax of RM26.31 million was lower than the RM70.92 million in the preceding quarter.

“The improved results for the current year quarter is mainly due to lower level of impairment losses allowed for development land of the group,” it said.


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