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Multistrada Arah Sarana swings to profit in Q2

PT Multistrada Arah Sarana Tbk said its second-quarter normalized net income was $26,130, compared with a loss of $1.3 million 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 0.0% from negative 2.0% in the year-earlier period.

Total revenue fell 6.3% on an annual basis to $60.9 million from $65.0 million, and total operating expenses decreased 8.8% on an annual basis to $59.4 million from $65.1 million.

Reported net income totaled $319,400, or 0 cents per share, compared to a loss of $2.0 million, or a loss of 0 cents per share, in the prior-year period.