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Xian Leng Holdings swings to profit in fiscal Q2

Xian Leng Holdings Bhd. said its normalized net income for the fiscal second quarter ended July 31 amounted to 160,630 ringgits, compared with a loss of 335,000 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 rose to 5.1% from negative 12.7% in the year-earlier period.

Total revenue increased 19.9% on an annual basis to 3.2 million ringgits from 2.6 million ringgits, and total operating expenses decreased 4.9% year over year to 2.8 million ringgits from 3.0 million ringgits.

Reported net income came to 225,390 ringgits, or 0 sen per share, compared to a loss of 443,500 ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of Sept. 25, US$1 was equivalent to 3.25 ringgits.