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Paos Holdings fiscal Q2 profit falls YOY

Paos Holdings Bhd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2014, amounted to 52,500 ringgits, a decrease of 94.9% from 1.0 million 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 0.4% from 2.2% in the year-earlier period.

Total revenue fell 69.9% year over year to 14.1 million ringgits from 47.1 million ringgits, and total operating expenses declined 69.0% on an annual basis to 14.1 million ringgits from 45.4 million ringgits.

Reported net income came to a loss of 131,000 ringgits, or a loss of 0 sen per share, compared to income of 1.1 million ringgits, or 1 sen per share, in the year-earlier period.

As of Jan. 27, US$1 was equivalent to 3.60 ringgits.