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FACB Industries fiscal Q3 profit falls YOY

FACB Industries Inc. Bhd. said its normalized net income for the fiscal third quarter ended March 31 came to 241,630 ringgits, a decrease of 68.9% from 776,500 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 dropped to 2.2% from 5.3% in the year-earlier period.

Total revenue fell 23.4% on an annual basis to 11.2 million ringgits from 14.6 million ringgits, and total operating expenses declined 18.7% on an annual basis to 12.2 million ringgits from 15.0 million ringgits.

Reported net income totaled a loss of 62,000 ringgits, or a loss of 0 sen per share, compared to income of 1.1 million ringgits, or 1 sen per share, in the prior-year period.

As of May 26, US$1 was equivalent to 4.06 ringgits.