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DutaLand swings to profit in fiscal Q3

DutaLand Bhd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 39.3 million ringgits, compared with a loss of 1.5 million 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 increased to 317.3% from negative 11.9% in the year-earlier period.

Total revenue came to 12.4 million ringgits.

Reported net income came to 56.9 million ringgits, or 7 sen per share, compared to a loss of 1.9 million ringgits, or a loss of 0 sen per share, in the prior-year period.

As of May 26, US$1 was equivalent to 3.64 ringgits.