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Eurospan Holdings swings to profit in fiscal Q2

Eurospan Holdings Bhd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2015, amounted to 867,500 ringgits, compared with a loss of 193,130 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 rose to 6.2% from negative 1.4% in the year-earlier period.

Total revenue came to 14.1 million ringgits, compared with 14.1 million ringgits in the year-earlier period, and total operating expenses fell 11.8% on an annual basis to 12.7 million ringgits from 14.4 million ringgits.

Reported net income totaled 1.1 million ringgits, or 2 sen per share, compared to a loss of 244,000 ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of Jan. 11, US$1 was equivalent to 4.40 ringgits.