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Thakral swings to loss in Q1

Thakral Corp. Ltd. said its first-quarter normalized net income amounted to a loss of S$309,000, compared with income of S$143,500 in the year-earlier period.

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

The normalized profit margin fell to negative 0.4% from 0.1% in the year-earlier period.

Total revenue decreased 55.5% year over year to S$79.8 million from S$179.5 million, and total operating expenses decreased 55.9% year over year to S$78.7 million from S$178.4 million.

Reported net income came to a loss of S$261,720, or a loss of 0 cents per share, compared to income of S$261,720, or 0 cents per share, in the year-earlier period.

As of May 12, US$1 was equivalent to S$1.34.