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Oceancash Pacific Q2 profit falls YOY

Oceancash Pacific Bhd. said its second-quarter normalized net income amounted to 1.7 million ringgits, a fall from 1.7 million 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 rose to 7.9% from 7.9% in the year-earlier period.

Total revenue fell year over year to 21.0 million ringgits from 21.9 million ringgits, and total operating expenses decreased year over year to 18.7 million ringgits from 19.1 million ringgits.

Reported net income grew 8.7% year over year to 2.7 million ringgits, or 1 sen per share, from 2.4 million ringgits, or 1 sen per share.

As of Aug. 26, US$1 was equivalent to 4.01 ringgits.