Green Packet amends bottom line, says 1Q net loss at RM24.38m

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KUALA LUMPUR (Aug 28): Green Packet Bhd said today that the high-speed Internet specialist made a net loss of RM24.38 million in the three months ended June 30, 2015, instead of a net profit as previously reported.

Green Packet (fundamental: 1.1; valuation: 0.3) said this in an amended announcement to Bursa Malaysia. There are no comparative figures from a year earlier, as the company changed its financial year end from June 30 to Dec 31.
Yesterday (Aug 27), Green Packet told the exchange that it registered a net profit of RM24.38 million. Today, a Green Packet spokesperson told that it was an “internal error” made by the firm.

At 3:27pm, Green Packet shares rose 0.5 sen or 2.4% to 21 sen, giving it a market capitalisation of RM144 million.

The stock saw 725,700 shares done.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)