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Envictus International swings to loss in fiscal Q1

Envictus International Holdings Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to a loss of 402,000 ringgits, compared with income of 780,630 ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 0.4% from 0.9% in the year-earlier period.

Total revenue grew 7.7% year over year to 91.0 million ringgits from 84.4 million ringgits, and total operating expenses rose 9.7% from the prior-year period to 92.6 million ringgits from 84.4 million ringgits.

Reported net income increased from the prior-year period to 2.8 million ringgits, or 2 sen per share, from 819,930 ringgits, or 1 sen per share.

As of Feb. 4, US$1 was equivalent to 4.09 ringgits.