PETALING JAYA: Bonia Corp Bhd posted a wider net loss of RM2.65 million for its third quarter ended March 31, from a net loss of RM167,000 in the previous corresponding quarter on lower revenue and a net provision for impairment loss on trade and other receivables amounting to RM2.4 million.
Revenue for the quarter declined 26.3% to RM86.2 million, from RM116.93 million.
For the cumulative period, Bonia’s net profit stood at RM8.8 million on revenue of RM308.49 million, compared with RM9.6 million and RM348.39 million in the previous corresponding period, respectively.
Looking ahead, the group said it has taken on a series of rationalisation and process consolidation exercises over the past few years which have put it on a much stronger footing, both operationally and financially.
However, it expects to face further challenges as the global economy remains highly uncertain while the domestic economy will take time to recover from the effects of the Covid-19 pandemic and overall subdued consumer sentiment.
“As the Covid-19 pandemic is far from over, therefore, its full impact is yet to be ascertained. The performance for the fourth quarter will be very challenging as our business operations to a large extent, have been restricted due to the enforcement of the movement controls and various business and travel restrictions,” it added.
source https://www.thesundaily.my/business/bonia-net-loss-widens-in-q3-on-lower-revenue-provision-AY2616673
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