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Teck Guan Perdana swings to profit in fiscal Q2

Teck Guan Perdana Berhad said its normalized net income for the fiscal second quarter ended July 31 was 7 Malaysian sen per share, compared with a loss of 4 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.7 million ringgits, compared with a loss of 1.4 million ringgits in the year-earlier period.

The normalized profit margin climbed to 4.0% from negative 3.2% in the year-earlier period.

Total revenue climbed 44.6% year over year to 66.1 million ringgits from 45.7 million ringgits, and total operating expenses climbed 32.0% from the prior-year period to 61.7 million ringgits from 46.7 million ringgits.

Reported net income totaled 2.6 million ringgits, or 6 sen per share, compared to a loss of 1.9 million ringgits, or a loss of 5 sen per share, in the year-earlier period.

As of Sept. 25, US$1 was equivalent to 4.40 ringgits.