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Banking Essentials Newsletter: 17th April Edition

United Malacca fiscal Q3 profit climbs 23.8% YOY

United Malacca Berhad said its normalized net income for the fiscal third quarter ended Jan. 31 was 5 Malaysian sen per share, an increase of 22.7% from 4 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.1 million ringgits, a gain of 23.8% from 8.2 million ringgits in the prior-year period.

The normalized profit margin increased to 20.2% from 17.1% in the year-earlier period.

Total revenue climbed on an annual basis to 50.0 million ringgits from 47.9 million ringgits, and total operating expenses decreased year over year to 33.7 million ringgits from 34.8 million ringgits.

Reported net income rose 36.9% year over year to 14.8 million ringgits, or 7 sen per share, from 10.8 million ringgits, or 5 sen per share.

As of March 29, US$1 was equivalent to 4.00 ringgits.