KUALA LUMPUR (April 19) : Guocoland (M) Bhd shares fell 4% to a six-month low after the property developer announced net losses in the third quarter due to lower revenue besides higher operating and finance expenses.
The stock declined 3.5 sen to 80 sen as at 2.41pm, the lowest since October 2011.
Guocoland told the exchange on Wednesday that it posted a net loss of RM2.37 million in the quarter to March 31, 2012 against a net loss of RM3.65 million a year earlier. Revenue fell 2% to RM23.44 million from RM23.96 million.
Its net assets per share stood at RM1.13 as at March 31 this year.