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Envictus International swings to profit in fiscal Q1

Envictus International Holdings Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to 708,750 ringgits, compared with a loss of 3.8 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 climbed to 0.9% from negative 5.0% in the year-earlier period.

Total revenue climbed 12.0% on an annual basis to 85.0 million ringgits from 75.9 million ringgits, and total operating expenses increased 5.2% from the prior-year period to 84.5 million ringgits from 80.3 million ringgits.

Reported net income totaled 819,930 ringgits, or 1 sen per share, compared to a loss of 6.6 million ringgits, or a loss of 5 sen per share, in the prior-year period.

As of Feb. 13, US$1 was equivalent to 3.56 ringgits.