Borneo Aqua Harvest Bhd announced unaudited consolidated earnings results for the fourth quarter and full year ended March 31, 2016. For the quarter, the company reported revenues of MYR 5,920,000 compared with MYR 6,315,000 for the same period a year ago. Loss from operations was MYR 2,826,000 compared with profit from operations of MYR 512,000 for the same period a year ago. Loss before tax was MYR 3,062,000 compared with profit before tax of MYR 251,000 for the same period a year ago. Loss for the period attributable to equity holders of the parent was MYR 2,379,000 or 0.54 sen per diluted share compared with profit for the period attributable to equity holders of the parent of MYR 2,489,000 or 0.59 sen per diluted share for the same period a year ago.

For the full year, the company reported revenues of MYR 18,299,000 compared with MYR 17,212,000 for the same period a year ago. Loss from operations was MYR 3,010,000 compared with MYR 3,444,000 for the same period a year ago. Loss before tax was MYR 4,025,000 compared with MYR 4,566,000 for the same period a year ago. Loss for the period attributable to equity holders of the parent was MYR 3,342,000 or 0.73 sen per diluted share compared with MYR 2,328,000 or 0.53 sen per diluted share for the same period a year ago. Net cash used in operating activities was MYR 3,189,000 compared with MYR 9,428,000 for the same period a year ago. Purchase of plant and equipment was MYR 952,000 compared with MYR 1,862,000 for the same period a year ago. Additions of biological assets was MYR 1,855,000 compared with MYR 207,000 for the same period a year ago. The Group's revenue was also marginally affected by Sabah State Government's temporary restriction on export of fresh and live seafood from the State. The Sabah State Government has in early February 2016 briefly restricted the export of fresh and live seafood from the State to preserve the local seafood industry. The temporary restriction was subsequently lifted one month later for cultured live fishes. As such, the Group's financial performance was not significantly affected by the said restriction, though the Chinese New Year festivity fell within the quarter under review.

The company provided earnings guidance for the full year ending March 31, 2017. Barring any unforeseen circumstances, the Board of Directors anticipates that the Group will be able to achieve a satisfactory operating results for the financial year ending 31 March 2017.