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APFT fiscal Q3 loss narrows YOY

APFT Berhad said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was a loss of 1.6 million ringgits, compared with a loss of 2.1 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 declined to negative 33.8% from negative 11.8% in the year-earlier period.

Total revenue fell 73.1% year over year to 4.7 million ringgits from 17.5 million ringgits, and total operating expenses decreased 45.2% from the prior-year period to 11.5 million ringgits from 20.9 million ringgits.

Reported net income came to a loss of 3.7 million ringgits, or a loss of 1 sen per share, compared to a loss of 3.8 million ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of Feb. 25, US$1 was equivalent to 4.22 ringgits.