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FACB Industries fiscal Q2 profit falls YOY

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FACB Industries fiscal Q2 profit falls YOY

FACB Industries Inc. Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 811,500 ringgits, a fall of 7.8% from 879,880 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 climbed to 6.2% from 5.4% in the year-earlier period.

Total revenue fell 20.0% on an annual basis to 13.1 million ringgits from 16.3 million ringgits, and total operating expenses declined 17.6% on an annual basis to 13.9 million ringgits from 16.8 million ringgits.

Reported net income decreased 47.9% from the prior-year period to 813,000 ringgits, or 1 sen per share, from 1.6 million ringgits, or 2 sen per share.

As of Feb. 24, US$1 was equivalent to 4.24 ringgits.