Lay Hong has posted a net loss of RM12.6 million for 4Q16, on the back of a one-time charge of a share-based expense of RM15.1 million, which was related to the full grant of 5.3 million shares under the share issuance scheme option to eligible directors and employees.
Excluding the share-based expense, Lay Hong would have a profit before tax of RM3.6 million, contributed by operational profit. For the quarter, the group registered a revenue of RM163.2 million, 3.6 percent lower than that of last year due to lower quantity of poultry products sold and lower average prices.
For the full year, top line contracted 3.9 percent to RM645.8 million while bottom line plunged 85.4 percent to RM2.7 million.
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Excluding the share-based expense, Lay Hong would have a profit before tax of RM3.6 million, contributed by operational profit. For the quarter, the group registered a revenue of RM163.2 million, 3.6 percent lower than that of last year due to lower quantity of poultry products sold and lower average prices.
For the full year, top line contracted 3.9 percent to RM645.8 million while bottom line plunged 85.4 percent to RM2.7 million.
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