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DutaLand swings to loss in fiscal Q2

DutaLand Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to a loss of 2.2 million ringgits, compared with income of 1.9 million ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 18.9% from 9.5% in the year-earlier period.

Total revenue declined 41.6% on an annual basis to 11.7 million ringgits from 20.0 million ringgits, and total operating expenses fell 7.2% year over year to 14.0 million ringgits from 15.1 million ringgits.

Reported net income came to a loss of 4.1 million ringgits, or a loss of 0 sen per share, compared to income of 592,280 ringgits, or 0 sen per share, in the prior-year period.

As of Feb. 25, US$1 was equivalent to 3.60 ringgits.