Thursday, May 19, 2011

Utusan down as 1Q net loss widens

KUALA LUMPUR: UTUSAN MELAYU (M) BHD [] shares declined in early trade on Thursday, May 19 after its net loss for 1Q ended March 31, 2011 widened to RM7.09 million from the net loss of RM6.04 million a year ago due to a 30% increase in raw materials.

At 9.20am, Utusan Melayu was down four sen to 86 sen with 3,000 shares traded.

It said on Wednesday, April 18 that revenue was higher by 15% at RM85.83 million compared with RM74.83 million. Loss per share was 6.4 sen compared with 5.46 sen.

Utusan Melayu said the higher revenue was mainly contributed by higher circulation of newspapers and distribution of books.

Its revenue fell also when compared with the preceding quarter ended Dec 31, 2010 which registered turnover of RM93.9 million, attributing the decline to lower contribution from advertising segment.


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