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Genting Malaysia Q3 profit climbs YOY

Genting Malaysia Bhd. said its third-quarter normalized net income was 5 Malaysian sen per share, compared with the S&P Capital IQ consensus estimate of 5 sen per share.

EPS increased year over year from 4 sen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 261.7 million ringgits, an increase from 255.3 million ringgits in the prior-year period.

The normalized profit margin rose to 12.9% from 11.4% in the year-earlier period.

Total revenue fell 9.3% on an annual basis to 2.03 billion ringgits from 2.23 billion ringgits, and total operating expenses declined 11.8% year over year to 1.62 billion ringgits from 1.83 billion ringgits.

Reported net income grew 22.6% from the prior-year period to 326.3 million ringgits, or 6 sen per share, from 266.1 million ringgits, or 5 sen per share.

As of Nov. 26, US$1 was equivalent to 4.23 ringgits.