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NewsPDZ sinks into net loss of RM1.67 mil in 1Q on high operating cost
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PDZ sinks into net loss of RM1.67 mil in 1Q on high operating cost
by Cals Wed 19 Nov 2014, 02:29
PDZ sinks into net loss of RM1.67 mil in 1Q on high operating cost
KUALA LUMPUR (Nov 18): PDZ Holdings Bhd (PDZ) ([You must be registered and logged in to see this image.] Financial Dashboard) announced that it posted net loss of RM1.67 million in first quarter financial results ended Sept 30, 2014 (1QFY15) against net profit of RM778,000.
In its filing to Bursa Malaysia today, PDZ attributed the loss to high fixed operating costs.
The company saw a 14% higher in administrative expense to RM4.14 million in 1QFY15, from RM3.62 million in previous corresponding quarter. On top of that, PDZ also incurred non-deployment costs of RM460,000.
Quarterly revenue was 13% lower at RM37.88 million against RM43.60 million, it said that this was mainly because of contraction on business volume.
Moving forward, the group is still concerned about the severe over tonnage issue, which plague the container shipping industry, and cause freight rates to be stagnant.
However, its management expect to see some improvements in business volume in the coming quarters, as they will continues to look for new businesses that provides enhancement to future earnings.
PDZ fell one sen or 4.44% to 21.5 sen today, with 22.08 million shares traded, giving it a market capitalisation of RM195.6 million.
KUALA LUMPUR (Nov 18): PDZ Holdings Bhd (PDZ) ([You must be registered and logged in to see this image.] Financial Dashboard) announced that it posted net loss of RM1.67 million in first quarter financial results ended Sept 30, 2014 (1QFY15) against net profit of RM778,000.
In its filing to Bursa Malaysia today, PDZ attributed the loss to high fixed operating costs.
The company saw a 14% higher in administrative expense to RM4.14 million in 1QFY15, from RM3.62 million in previous corresponding quarter. On top of that, PDZ also incurred non-deployment costs of RM460,000.
Quarterly revenue was 13% lower at RM37.88 million against RM43.60 million, it said that this was mainly because of contraction on business volume.
Moving forward, the group is still concerned about the severe over tonnage issue, which plague the container shipping industry, and cause freight rates to be stagnant.
However, its management expect to see some improvements in business volume in the coming quarters, as they will continues to look for new businesses that provides enhancement to future earnings.
PDZ fell one sen or 4.44% to 21.5 sen today, with 22.08 million shares traded, giving it a market capitalisation of RM195.6 million.
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