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Xian Leng Holdings swings to profit in fiscal Q1

Xian Leng Holdings Berhad said its normalized net income for the fiscal first quarter ended April 30 was 35,630 ringgits, compared with a loss of 105,630 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 increased to 1.3% from negative 3.3% in the year-earlier period.

Total revenue decreased 13.9% on an annual basis to 2.7 million ringgits from 3.2 million ringgits, and total operating expenses declined 19.4% on an annual basis to 2.7 million ringgits from 3.3 million ringgits.

Reported net income totaled 29,080 ringgits, or 0 sen per share, compared to a loss of 189,030 ringgits, or a loss of 0 sen per share, in the prior-year period.

As of June 24, US$1 was equivalent to 3.77 ringgits.