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Suiwah fiscal Q2 profit falls YOY

Suiwah Corp. Bhd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2015, amounted to 1 Malaysian sen per share, a decline of 73.8% from 5 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 796,130 ringgits, a decline of 73.9% from 3.0 million ringgits in the year-earlier period.

The normalized profit margin fell to 0.9% from 3.4% in the year-earlier period.

Total revenue fell on an annual basis to 87.1 million ringgits from 90.4 million ringgits, and total operating expenses came to 85.6 million ringgits, compared with 85.3 million ringgits in the year-earlier period.

Reported net income fell 87.0% from the prior-year period to 435,440 ringgits, or 1 sen per share, from 3.4 million ringgits, or 6 sen per share.

As of Jan. 28, US$1 was equivalent to 4.17 ringgits.