Guocoland drops 1.45% on fifth consecutive quarterly loss

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KUALA LUMPUR (Aug 19): Shares in Guocoland (M) Bhd dropped 1.45% at mid-morning today after the firm posted its fifth consecutive quarterly loss for the fourth quarter ended June 30, 2019. But the net loss narrowed to RM11.69 million from RM35.73 million last year.

At 10.33am, Guocoland fell 1 sen to 68 sen, with a market capitalisation of RM476.31 million.

The group said quarterly revenue stood at RM131.02 million against a negative net revenue of RM100.45 million last year.

Guocoland said the swing in revenue was due to earnings recognised from the launch of the Emerald Hills in Cheras.

For FY19, the group posted a net loss of RM32.53 million from a net profit of RM19.49 million last year, despite revenue rising 70.85% to RM414.36 million from RM242.53 million previously.