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SWS Capital fiscal Q2 profit climbs YOY

SWS Capital Bhd. said its normalized net income for the fiscal second quarter ended Feb. 29 was 1.2 million ringgits, an increase from 150,570 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 3.1% from 0.5% in the year-earlier period.

Total revenue rose 28.6% on an annual basis to 38.4 million ringgits from 29.8 million ringgits, and total operating expenses rose 18.1% year over year to 35.1 million ringgits from 29.7 million ringgits.

Reported net income grew on an annual basis to 1.9 million ringgits, or 1 sen per share, from 403,290 ringgits, or 0 sen per share.

As of April 27, US$1 was equivalent to 3.93 ringgits.