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Landmarks Bhd. swings to profit in Q3

Landmarks Berhad said its normalized net income for the third quarter came to 833,130 ringgits, compared with a loss of 5.0 million 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 rose to 5.4% from negative 42.5% in the year-earlier period.

Total revenue rose 30.5% on an annual basis to 15.4 million ringgits from 11.8 million ringgits, and total operating expenses fell 25.7% on an annual basis to 13.9 million ringgits from 18.8 million ringgits.

Reported net income came to 384,650 ringgits, or 0 sen per share, compared to a loss of 8.1 million ringgits, or a loss of 2 sen per share, in the year-earlier period.

As of Nov. 25, US$1 was equivalent to 4.21 ringgits.