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FCW Holdings swings to profit in fiscal Q2

FCW Holdings Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 1.6 million ringgits, compared with a loss of 1.0 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 increased to 27.5% from negative 18.0% in the year-earlier period.

Total revenue grew year over year to 6.0 million ringgits from 5.8 million ringgits, and total operating expenses decreased 38.0% from the prior-year period to 3.8 million ringgits from 6.1 million ringgits.

Reported net income totaled 2.5 million ringgits, or 1 sen per share, compared to a loss of 1.7 million ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of Feb. 29, US$1 was equivalent to 4.21 ringgits.