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APFT fiscal Q1 loss narrows YOY

APFT Bhd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 202,500 ringgits, compared with a loss of 2.6 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 rose to negative 0.7% from negative 53.3% in the year-earlier period.

Total revenue increased on an annual basis to 28.2 million ringgits from 4.9 million ringgits, and total operating expenses grew on an annual basis to 25.8 million ringgits from 8.4 million ringgits.

Reported net income came to 3,000 ringgits, or 0 sen per share, compared to a loss of 4.2 million ringgits, or a loss of 3 sen per share, in the prior-year period.

As of Aug. 29, US$1 was equivalent to 3.15 ringgits.