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SWS Capital fiscal Q2 profit falls YOY

SWS Capital Bhd. said its normalized net income for the fiscal second quarter ended Feb. 28 amounted to 150,570 ringgits, a fall of 72.1% from 540,420 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 declined to 0.5% from 1.7% in the year-earlier period.

Total revenue fell 5.8% year over year to 29.8 million ringgits from 31.7 million ringgits, and total operating expenses declined year over year to 29.7 million ringgits from 30.8 million ringgits.

Reported net income fell 45.5% on an annual basis to 403,290 ringgits, or 0 sen per share, from 739,790 ringgits, or 1 sen per share.

As of April 23, US$1 was equivalent to 3.63 ringgits.