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Envictus International swings to loss in fiscal Q2

Envictus International Holdings Ltd. said its normalized net income for the fiscal second quarter ended March 31 came to a loss of 2 Malaysian sen per share, compared with 1 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 2.0 million ringgits, compared with income of 1.7 million ringgits in the prior-year period.

The normalized profit margin declined to negative 3.1% from 2.1% in the year-earlier period.

Total revenue rose on an annual basis to 85.0 million ringgits from 81.3 million ringgits, and total operating expenses grew 11.0% from the prior-year period to 88.0 million ringgits from 79.2 million ringgits.

Reported net income fell 78.9% from the prior-year period to 1.4 million ringgits, or 1 sen per share, from 6.7 million ringgits, or 5 sen per share.

As of May 12, US$1 was equivalent to 4.01 ringgits.