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FCW Holdings fiscal Q1 profit falls YOY

FCW Holdings Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 364,000 ringgits, a decrease of 40.1% from 608,130 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 5.5% from 8.8% in the year-earlier period.

Total revenue fell on an annual basis to 6.6 million ringgits from 6.9 million ringgits, and total operating expenses declined from the prior-year period to 6.3 million ringgits from 6.6 million ringgits.

Reported net income fell 43.4% on an annual basis to 519,790 ringgits, or 0 sen per share, from 918,190 ringgits, or 0 sen per share.

As of Nov. 20, US$1 was equivalent to 3.37 ringgits.