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Kawan Food Q2 profit falls YOY

Kawan Food Bhd. said its second-quarter normalized net income came to 2 Malaysian sen per share, a decline of 13.7% 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 7.0 million ringgits, a decline of 7.4% from 7.6 million ringgits in the prior-year period.

The normalized profit margin declined to 12.8% from 13.7% in the year-earlier period.

Total revenue totaled 55.1 million ringgits, compared with 55.5 million ringgits in the prior-year period, and total operating expenses declined year over year to 44.1 million ringgits from 45.0 million ringgits.

Reported net income decreased on an annual basis to 9.0 million ringgits, or 3 sen per share, from 9.2 million ringgits, or 3 sen per share.

As of Aug. 18, US$1 was equivalent to 4.29 ringgits.