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DutaLand swings to loss in fiscal Q1

DutaLand Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 was a loss of 4.0 million ringgits, compared with income of 27.6 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 negative 41.2% from 226.6% in the year-earlier period.

Total revenue came to 9.7 million ringgits, and total operating expenses totaled 14.9 million ringgits.

Reported net income totaled a loss of 6.9 million ringgits, or a loss of 1 sen per share, compared to income of 43.3 million ringgits, or 5 sen per share, in the prior-year period.

As of Nov. 25, US$1 was equivalent to 3.35 ringgits.