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Eurospan Holdings swings to profit in fiscal Q3

Eurospan Holdings Bhd. said its normalized net income for the fiscal third quarter ended Feb. 29 came to 85,000 ringgits, compared with a loss of 350,630 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 climbed to 0.7% from negative 2.9% in the year-earlier period.

Total revenue declined on an annual basis to 11.8 million ringgits from 11.9 million ringgits, and total operating expenses fell 7.5% from the prior-year period to 11.7 million ringgits from 12.6 million ringgits.

Reported net income came to 98,000 ringgits, or 0 sen per share, compared to a loss of 377,000 ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of April 18, US$1 was equivalent to 3.92 ringgits.