SWS Capital Bhd. said its normalized net income for the fiscal first quarter ended Nov. 30, 2014, amounted to 597,460 ringgits, a decline of 32.9% from 889,990 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 dropped to 1.8% from 2.7% in the year-earlier period.
Total revenue came to 32.7 million ringgits, compared with 32.6 million ringgits in the prior-year period, and total operating expenses rose on an annual basis to 31.5 million ringgits from 30.2 million ringgits.
Reported net income fell 39.1% from the prior-year period to 878,770 ringgits, or 1 sen per share, from 1.4 million ringgits, or 1 sen per share.
As of Jan. 22, US$1 was equivalent to 3.59 ringgits.
