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DutaLand swings to profit in fiscal Q1

DutaLand Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 4.0 million ringgits, compared with a loss of 4.0 million 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 39.3% from negative 41.2% in the year-earlier period.

Total revenue climbed year over year to 10.1 million ringgits from 9.7 million ringgits, and total operating expenses fell 74.6% from the prior-year period to 3.8 million ringgits from 14.9 million ringgits.

Reported net income came to 2.5 million ringgits, or 0 sen per share, compared to a loss of 6.9 million ringgits, or a loss of 1 sen per share, in the prior-year period.

As of Nov. 24, US$1 was equivalent to 4.22 ringgits.