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TA Global swings to profit in fiscal Q2

TA Global Bhd. said its normalized net income for the fiscal second quarter ended July 31 amounted to 18.9 million ringgits, compared with a loss of 355,000 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 rose to 8.4% from negative 0.2% in the year-earlier period.

Total revenue increased 44.8% year over year to 226.9 million ringgits from 156.8 million ringgits, and total operating expenses rose 52.2% year over year to 190.9 million ringgits from 125.4 million ringgits.

Reported net income totaled 21.2 million ringgits, or 0 sen per share, compared to a loss of 3.3 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Sept. 24, US$1 was equivalent to 3.24 ringgits.