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FACB Industries swings to profit in fiscal Q3

FACB Industries Inc. Bhd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 776,500 ringgits, compared with a loss of 127,750 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 5.3% from negative 1.1% in the year-earlier period.

Total revenue increased 20.2% on an annual basis to 14.6 million ringgits from 12.1 million ringgits, and total operating expenses increased 10.1% year over year to 15.0 million ringgits from 13.6 million ringgits.

Reported net income came to 1.1 million ringgits, or 1 sen per share, compared to a loss of 377,000 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of May 27, US$1 was equivalent to 3.65 ringgits.