Iris falls 9.1% on posting largest net loss to date
KUALA LUMPUR (June 1): Iris Corp Bhd fell 9.09% in active trade this morning after the company reported its largest net loss to date of RM291.92 million for the fourth quarter ended March 31, 2017 (4QFY17) due mainly to a one-off non-cash impairment arising from the group’s corporate restructuring plan.
At 9.02am, Iris fell 1.5 sen to 15 sen with 10.65 million shares done.
This compares with a net profit of RM1.52 million reported by the group for 4QFY16, and a net loss of RM1.79 million for 3QFY17.
Revenue for the quarter rose 13.83% to RM119.35 million from RM104.84 million in 4QFY16.— theedgemarkets.com
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