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Pinehill Pacific fiscal Q2 profit climbs YOY

Pinehill Pacific Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 92,630 ringgits, a rise from 46,000 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 1.6% from 0.7% in the year-earlier period.

Total revenue declined 8.1% on an annual basis to 5.7 million ringgits from 6.1 million ringgits, and total operating expenses increased year over year to 5.1 million ringgits from 5.1 million ringgits.

Reported net income came to a loss of 146,000 ringgits, or a loss of 0 sen per share, compared to a loss of 44,000 ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Feb. 29, US$1 was equivalent to 4.21 ringgits.