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Xian Leng Holdings swings to profit in fiscal Q3

Xian Leng Holdings Bhd. said its normalized net income for the fiscal third quarter ended Oct. 31 came to 28,130 ringgits, compared with a loss of 181,250 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 0.9% from negative 6.7% in the year-earlier period.

Total revenue increased 16.5% year over year to 3.1 million ringgits from 2.7 million ringgits, and total operating expenses rose 7.1% from the prior-year period to 3.0 million ringgits from 2.8 million ringgits.

Reported net income totaled 36,350 ringgits, or 0 sen per share, compared to a loss of 290,820 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Dec. 30, US$1 was equivalent to 3.50 ringgits.