Cycle & Carriage falls 3.33% on wider 1Q net loss

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KUALA LUMPUR (April 24): Shares in Cycle & Carriage Bintang Bhd fell 3.33% this morning after it recorded a wider net loss of RM4.36 million in its first quarter ended March 31, 2019, compared with a net loss of RM3.19 million a year ago on the back of lower sales and weaker margins.

At 9.37am, Cycle & Carriage fell 5 sen to RM1.45 with 23,400 shares traded.

Revenue for the quarter declined 24.5% to RM293.19 million versus RM388.58 million in the previous year’s corresponding quarter, as vehicle unit sales fell 30%.