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FACB Industries fiscal Q1 profit climbs YOY

FACB Industries Inc. Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 924,000 ringgits, a gain from 220,000 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 9.9% from 1.8% in the year-earlier period.

Total revenue increased on an annual basis to 12.6 million ringgits from 12.2 million ringgits, and total operating expenses fell from the prior-year period to 13.3 million ringgits from 13.6 million ringgits.

Reported net income rose on an annual basis to 2.1 million ringgits, or 3 sen per share, from 428,000 ringgits, or 1 sen per share.

As of Nov. 18, US$1 was equivalent to 4.36 ringgits.