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NPC Resources swings to profit in Q3

NPC Resources Berhad said its normalized net income for the third quarter came to 3 Malaysian sen per share, compared with a loss of 3 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.4 million ringgits, compared with a loss of 3.7 million ringgits in the year-earlier period.

The normalized profit margin climbed to 4.6% from negative 4.6% in the year-earlier period.

Total revenue declined 8.2% on an annual basis to 74.0 million ringgits from 80.6 million ringgits, and total operating expenses decreased 21.5% on an annual basis to 67.1 million ringgits from 85.5 million ringgits.

Reported net income totaled 3.4 million ringgits, or 3 sen per share, compared to a loss of 6.9 million ringgits, or a loss of 6 sen per share, in the year-earlier period.

As of Nov. 25, US$1 was equivalent to 4.44 ringgits.