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APFT swings to profit in fiscal Q2

APFT Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 59,500 ringgits, compared with a loss of 2.9 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 climbed to 0.2% from negative 75.3% in the year-earlier period.

Total revenue grew year over year to 24.4 million ringgits from 3.9 million ringgits, and total operating expenses increased year over year to 23.0 million ringgits from 7.7 million ringgits.

Reported net income totaled 26,000 ringgits, or 0 sen per share, compared to a loss of 4.7 million ringgits, or a loss of 3 sen per share, in the prior-year period.

As of Nov. 21, US$1 was equivalent to 3.36 ringgits.