Why Such Poor Reporting?

Posted on Star Business: Sapura Resources returns to black in first quarter

• KUALA LUMPUR: Sapura Resources Bhd posted a pre-tax profit of RM478,000 in the first quarter ended July 31, 2008 compared with a pre-tax loss of RM1.73mil in the previous corresponding period.
  
  The company’s revenue increased to RM60mil from RM55.4mil previously. - Bernama

Ok Star Business is only re-broadcasting what Bernama wrote.

As one can read, this news brief talks only on Sapura pre-tax profit.

And in the financial world, such reporting makes no sense because one needs to address corporate taxes too.

So what's the point of publishing how much pre-tax profits Sapura Resources made?

And if you include in the corporate taxes, Sapura Resources lost money.

Here is the link to Sapura Resources said earnings report.
Quarterly rpt on consolidated results for the financial period ended 31/7/2008

And it's rather amazing because the Edge has managed to report it correctly.

24-09-2008: Sapura Resources’ 2Q loss narrows

• KUALA LUMPUR: Sapura Resources Bhd’s net loss for the second quarter (2Q) ended July 31, 2008 narrowed to RM753,000 from to RM1.73 million a year earlier due to more vehicles sold and a rise in the number of students in its education business.
  
  Revenue rose 8.4% to RM60 million from RM55.36 million a year earlier. No dividend was declared.
  
  For the six months to July 31, its net loss narrowed to RM2.07 million from RM4.94 million a year earlier, while revenue rose 37% to RM124.99 million from RM91.26 million.

Can we hope for better financial reporting?