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Isetan (Singapore) Q3 loss narrows YOY

Isetan (Singapore) Ltd. said its normalized net income for the third quarter came to a loss of 3 Singapore cents per share, compared with a loss of 10 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of S$1.2 million, compared with a loss of S$4.1 million in the prior-year period.

The normalized profit margin rose to 4.4% from negative 5.8% in the year-earlier period.

Total revenue fell on an annual basis to S$69.1 million from S$70.3 million, and total operating expenses decreased 5.5% on an annual basis to S$72.6 million from S$76.8 million.

Reported net income came to S$5.3 million, or 13 cents per share, compared to a loss of S$6.2 million, or a loss of 15 cents per share, in the prior-year period.

As of Nov. 11, US$1 was equivalent to S$1.41.