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Fiamma Holdings fiscal Q3 profit falls YOY

Fiamma Holdings Bhd. said its normalized net income for the fiscal third quarter ended June 30 was 1 Malaysian sen per share, a decline of 39.1% from 2 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.6 million ringgits, a decrease of 38.8% from 10.8 million ringgits in the year-earlier period.

The normalized profit margin dropped to 8.5% from 11.6% in the year-earlier period.

Total revenue fell 16.1% year over year to 77.7 million ringgits from 92.6 million ringgits, and total operating expenses fell 11.4% from the prior-year period to 64.4 million ringgits from 72.8 million ringgits.

Reported net income decreased 36.7% from the prior-year period to 7.9 million ringgits, or 2 sen per share, from 12.5 million ringgits, or 3 sen per share.

As of Aug. 19, US$1 was equivalent to 4.10 ringgits.