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SWS Capital fiscal Q1 profit falls YOY

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.