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C.I. Holdings swings to profit in fiscal Q3

C.I. Holdings Bhd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 1.6 million ringgits, compared with a loss of 1.3 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 climbed to 2.3% from negative 13.7% in the year-earlier period.

Total revenue climbed on an annual basis to 71.0 million ringgits from 9.6 million ringgits, and total operating expenses grew on an annual basis to 68.2 million ringgits from 10.1 million ringgits.

Reported net income totaled 2.2 million ringgits, or 1 sen per share, compared to a loss of 2.1 million ringgits, or a loss of 2 sen per share, in the year-earlier period.

As of May 6, US$1 was equivalent to 3.56 ringgits.