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MCE Holdings swings to profit in fiscal Q3

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Investment Banking Essentials: February 21

MCE Holdings swings to profit in fiscal Q3

MCE Holdings Bhd. said its normalized net income for the fiscal third quarter ended April 30 was 387,500 ringgits, compared with a loss of 768,750 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 climbed to 1.9% from negative 4.9% in the year-earlier period.

Total revenue climbed 27.0% on an annual basis to 20.0 million ringgits from 15.8 million ringgits, and total operating expenses increased 14.7% year over year to 19.5 million ringgits from 17.0 million ringgits.

Reported net income totaled 423,000 ringgits, or 1 sen per share, compared to a loss of 1.0 million ringgits, or a loss of 2 sen per share, in the prior-year period.

As of June 23, US$1 was equivalent to 4.29 ringgits.