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Milux swings to profit in Q1

Milux Corp. Berhad said its first-quarter normalized net income was 56,250 ringgits, compared with a loss of 403,130 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 0.3% from negative 3.1% in the year-earlier period.

Total revenue climbed 40.1% on an annual basis to 18.0 million ringgits from 12.9 million ringgits, and total operating expenses increased 32.9% year over year to 17.9 million ringgits from 13.5 million ringgits.

Reported net income came to a loss of 339,000 ringgits, or a loss of 1 sen per share, compared to a loss of 753,000 ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of May 22, US$1 was equivalent to 3.60 ringgits.