Cycle & Carriage shares fall 2.68% after reporting net loss in Q3

PETALING JAYA: Cycle & Carriage Bintang Bhd’s share price fell 2.68% this morning after it announced a net loss for the third quarter ended Sept 30, 2017.
At 10.39am, its share price was 2.68% or 6 sen lower at RM2.18 with a total of 125,600 shares traded.
Yesterday, the group said it suffered a net loss of RM3.26 million during the quarter under review with expenses, excluding finance cost and tax, outstripping revenue, which was already lower than the corresponding quarter in 2016.
It made a net profit of RM8.29 million for the quarter ended Sept 30, 2016.
Revenue fell 13% to RM331.61 million from RM380.26 million in the previous year’s corresponding quarter. No dividend was proposed for the quarter.
For the nine months period, its net profit was down 84% to RM6.02 million compared with RM37.46 million in the previous year. Revenue also decreased by 7% to RM1.04 billion from RM1.12 billion a year ago.