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Astral Asia swings to profit in Q2

Astral Asia Berhad said its normalized net income for the second quarter amounted to 1.8 million ringgits, compared with a loss of 547,250 ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 27.7% from negative 8.6% in the year-earlier period.

Total revenue climbed year over year to 6.4 million ringgits from 6.3 million ringgits, and total operating expenses came to 7.1 million ringgits, compared with 7.1 million ringgits in the prior-year period.

Reported net income totaled 2.4 million ringgits, or 0 sen per share, compared to a loss of 1.1 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Aug. 18, US$1 was equivalent to 3.99 ringgits.