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Thakral swings to profit in Q2

Thakral Corp. Ltd. said its second-quarter normalized net income amounted to S$164,630, compared with a loss of S$1.9 million 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 0.2% from negative 2.4% in the year-earlier period.

Total revenue fell 31.4% on an annual basis to S$54.1 million from S$78.9 million, and total operating expenses decreased 36.0% on an annual basis to S$51.2 million from S$80.1 million.

Reported net income came to a loss of S$432,000, or a loss of 0 cents per share, compared to income of S$6.9 million, or 5 cents per share, in the prior-year period.

As of Aug. 3, US$1 was equivalent to S$1.34.