PETALING JAYA: Sasbadi Holdings Bhd posted a net loss of RM8.77mil in the third quarter ended May 31, following the movement control order (MCO) imposed to curb the Covid-19 pandemic.
In the same period a year ago, it had made a net profit of RM635,000.
The syllabus-based content provider told Bursa Malaysia that revenue came in significantly lower at RM4.95mil during the quarter compared with RM17.79mil in the same period a year ago.
It represented a decrease of 72.21%, attributed mainly to its print publishing division, which showed decrease of RM12.68mil.
With the reopening of schools, Sasbadi said it is experiencing a strong rebound arising from the pent-up demand for its print publishing products particularly in relation to the upcoming SPM and STPM examinations.
On its prospects, the company aimed to expand its market share going forward as it expected the market to consolidate further as a result of the pandemic.
“The group’s competitive advantage in content development remains strong and relevant in the current situation.
“We are able to leverage and adapt our contents to meet the wide and diverse range of educational needs, ” it said.