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PCCS Group swings to loss in fiscal Q2

PCCS Group Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 3 Malaysian sen per share, compared with 2 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.8 million ringgits, compared with income of 1.2 million ringgits in the prior-year period.

The normalized profit margin fell to negative 1.9% from 1.1% in the year-earlier period.

Total revenue declined 18.9% on an annual basis to 90.8 million ringgits from 112.0 million ringgits, and total operating expenses decreased 15.4% from the prior-year period to 93.2 million ringgits from 110.2 million ringgits.

Reported net income came to a loss of 2.9 million ringgits, or a loss of 5 sen per share, compared to income of 1.2 million ringgits, or 2 sen per share, in the prior-year period.

As of Nov. 28, US$1 was equivalent to 3.38 ringgits.