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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.