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FACB Industries fiscal Q1 profit falls YOY

FACB Industries Inc. Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 220,000 ringgits, a fall of 99.4% from 39.3 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 fell to 1.8% from 257.6% in the year-earlier period.

Total revenue fell 19.7% on an annual basis to 12.2 million ringgits from 15.2 million ringgits, and total operating expenses fell 12.1% from the prior-year period to 13.6 million ringgits from 15.4 million ringgits.

Reported net income decreased 99.3% from the prior-year period to 428,000 ringgits, or 1 sen per share, from 64.1 million ringgits, or 76 sen per share.

As of Nov. 26, US$1 was equivalent to 3.35 ringgits.