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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, 2014, amounted to 1 Malaysian sen per share, a decrease of 33.7% from 2 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 879,880 ringgits, a decline of 33.7% from 1.3 million ringgits in the year-earlier period.

The normalized profit margin dropped to 5.4% from 7.2% in the year-earlier period.

Total revenue fell 11.2% on an annual basis to 16.3 million ringgits from 18.4 million ringgits, and total operating expenses declined 5.3% year over year to 16.8 million ringgits from 17.7 million ringgits.

Reported net income decreased 44.9% on an annual basis to 1.6 million ringgits, or 2 sen per share, from 2.8 million ringgits, or 3 sen per share.

As of Feb. 11, US$1 was equivalent to 3.63 ringgits.