KUALA LUMPUR (Dec 18): Johan Holdings Bhd's net loss narrowed to RM7.04 million for its third financial quarter ended Oct 31, 2014 (3QFY15), from RM9.06 million a year ago, as lower revenue on other businesses offset higher revenue in the building materials segment.
 
Revenue fell 4% to RM59.86 million, from RM62.35 million in 3QFY14.

In a filing with Bursa Malaysia today, Johan said while building materials segment recorded higher revenue, the other businesses — including card services, healthfood business, and the investment and secretarial services segment — registered lower revenue in the quarter, resulting in the overall revenue for 3QFY15 being lower.

For the nine months period (9MFY15), Johan marked a turnaround with a net profit of RM747,000, compared with a net loss of RM22.11 million a year earlier.

This was despite a lower revenue of RM180.36 million, down 10.35% from RM201.18 million a year ago.

“The sectors in which the group operates, remain highly competitive. With the disposal of a loss-making entity, the group is expected to perform better for the current (financial) year,” said Johan.

Johan shares closed up 0.5 sen or 2.94% at 17.5 sen today, bringing a market capitalisation of RM109.02 million.