Friday 29 Mar 2024
By
main news image

KUALA LUMPUR (Nov 24): Warisan TC Holdings Bhd fell into the red with a net loss of RM2.2 million for its third quarter ended Sept 30, 2014 (3QFY14) from a net profit of RM5.8 million a year ago, due to increased operating costs.

Revenue for 3QFY14 declined 8% year-on-year to RM112.1 million from RM121.3 million. It recorded a loss per share of 3.36 sen, compared with earnings per share of 8.87 sen per share in 3QFY13.

“Lower revenue was recorded by travel and car rental division and automotive division while loss before tax was due to increase in operating costs,” said Warisan TC in a filing with Bursa Malaysia today.

The group said the lower number of tourist arrivals from China, the Middle East and Europe had affected its group travel and car rental division.

For the nine months period to Sept 30, 2014 (9MFY14), net profit plunged 87% to RM1.9 million from RM14.4 million a year ago, while revenue rose 1% to RM356.9 million from RM353.5 million.

Earnings per share for 9MFY14 was down to 2.90 sen per share, compared with 22.03 sen per share in 9MFY13.

Going forward, Warisan TC said it will continue to focus on strengthening its market presence and widening its product range, while expanding its regional footprint.

The counter fell 11 sen or 3.79% to close at RM2.79 today, giving it a market capitalisation of RM181.64 million.
 

      Print
      Text Size
      Share