Business

Published: Thursday February 28, 2013 MYT 2:37:00 PM

KUB Malaysia's net loss narrows to RM10mil in Q4, 2012


KUALA LUMPUR: KUB Malaysia Bhd's net losses narrowed to RM10.06mil in the fourth quarter ended Dec 31, 2012 from RM41.27mil a year ago on lower impairment losses.

It said on Thursday the impairment losses were reduced to RM3.61mil from RM25.36mil a year ago.

KUB's revenue rose 19% to RM222.17mil from RM186.55mil. Loss per share was 1.81 sen compared with 7.42 sen.

For the financial year ended Dec 31, 2012, its net losses had shrunk to RM17.69mil from RM60.40mil in FY11. Its revenue increased by 16.5% to RM826.42mil from RM708.45mil.

KUB said in FY11, there was an impairment loss of assets amounted to RM22.4mil and impairment loss on goodwill of subsidiaries of RM17.3mil.

"Nevertheless, the loss for the current period was mainly due to non-performing F&B outlets and delay in project execution," it said.

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