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Emico Holdings swings to profit in fiscal Q2

Emico Holdings Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 822,630 ringgits, compared with a loss of 503,380 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 5.1% from negative 3.4% in the year-earlier period.

Total revenue grew 6.9% on an annual basis to 16.0 million ringgits from 15.0 million ringgits, and total operating expenses decreased from the prior-year period to 14.9 million ringgits from 15.6 million ringgits.

Reported net income totaled 1.3 million ringgits, or 1 sen per share, compared to a loss of 761,000 ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of Nov. 23, US$1 was equivalent to 4.28 ringgits.