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Yoong Onn fiscal Q2 profit falls YOY

Yoong Onn Corp. Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 4 Malaysian sen per share, a decrease of 8.6% from 4 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 5.6 million ringgits, a decline of 8.6% from 6.1 million ringgits in the prior-year period.

The normalized profit margin fell to 11.2% from 12.1% in the year-earlier period.

Total revenue came to 50.2 million ringgits, compared with 50.7 million ringgits in the prior-year period, and total operating expenses grew year over year to 41.1 million ringgits from 40.6 million ringgits.

Reported net income declined 5.1% year over year to 6.6 million ringgits, or 4 sen per share, from 6.9 million ringgits, or 4 sen per share.

As of Feb. 11, US$1 was equivalent to 3.63 ringgits.