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Omesti swings to profit in fiscal Q3

Omesti Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 1.1 million ringgits, compared with a loss of 1.5 million 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 1.0% from negative 1.2% in the year-earlier period.

Total revenue declined 5.8% on an annual basis to 112.7 million ringgits from 119.6 million ringgits, and total operating expenses declined 8.9% on an annual basis to 113.7 million ringgits from 124.8 million ringgits.

Reported net income totaled 310,760 ringgits, or 0 sen per share, compared to a loss of 4.4 million ringgits, or a loss of 1 sen per share, in the prior-year period.

As of Feb. 26, US$1 was equivalent to 4.20 ringgits.