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SWS Capital swings to profit in fiscal Q3

SWS Capital Bhd. said its normalized net income for the fiscal third quarter ended May 31 came to 369,690 ringgits, compared with a loss of 2.0 million 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 increased to 1.0% from negative 6.4% in the year-earlier period.

Total revenue climbed 16.4% on an annual basis to 36.6 million ringgits from 31.4 million ringgits, and total operating expenses climbed on an annual basis to 35.2 million ringgits from 34.1 million ringgits.

Reported net income totaled 1.9 million ringgits, or 1 sen per share, compared to a loss of 3.3 million ringgits, or a loss of 3 sen per share, in the prior-year period.

As of July 28, US$1 was equivalent to 4.06 ringgits.