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MHC Plantations Q3 profit climbs 49.0% YOY


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MHC Plantations Q3 profit climbs 49.0% YOY

MHC Plantations Bhd. said its normalized net income for the third quarter was 2.5 million ringgits, a gain of 49.0% from 1.6 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 2.6% from 2.0% in the year-earlier period.

Total revenue increased 15.7% on an annual basis to 93.1 million ringgits from 80.5 million ringgits, and total operating expenses climbed 11.7% from the prior-year period to 83.4 million ringgits from 74.7 million ringgits.

Reported net income rose 36.6% year over year to 3.2 million ringgits, or 1 sen per share, from 2.3 million ringgits, or 1 sen per share.

As of Nov. 19, US$1 was equivalent to 4.28 ringgits.