For the FY2023, the group reported a loss of RM7.8 million, down from its earnings of RM16.3 million in the FY2022. This was said to be due to the intense overburden removal activities, which stood in line with the group’s mining schedule.
Southern Alliance Mining has reported a net loss of RM0.8 million ($233,155.76) for the 2HFY2023 ended July 31, which is narrower than the net loss of RM7.0 million for the 1HFY2023 and narrower than the net loss of RM3.1 million in the 2HFY2022.
The lower net loss on a h-o-h basis was attributed to the higher revenue and gross profit instead of a gross loss in the 2HFY2023.
