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Borneo Oil swings to profit in fiscal Q1

4914114 said its normalized net income for the fiscal first quarter ended April 30 came to 328,130 ringgits, compared with a loss of 997,500 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 rose to 2.2% from negative 12.4% in the year-earlier period.

Total revenue climbed 81.8% on an annual basis to 14.6 million ringgits from 8.0 million ringgits, and total operating expenses grew 47.4% on an annual basis to 14.0 million ringgits from 9.5 million ringgits.

Reported net income came to 525,000 ringgits, compared with a loss of 1.6 million ringgits, or a loss of 0 sen per share, in the prior-year period.

s of June 30, US$1 was equivalent to 3.77 ringgits.Borneo Oil Bhd.

4914114 said its normalized net income for the fiscal first quarter ended April 30 came to 328,130 ringgits, compared with a loss of 997,500 ringgits in the prior-year period.