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Zhulian Corp fiscal Q1 profit falls YOY

Zhulian Corp. Bhd. said its normalized net income for the fiscal first quarter ended Feb. 28 was 2 Malaysian sen per share, a decline of 15.6% from 3 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 10.8 million ringgits, a decrease of 15.6% from 12.7 million ringgits in the prior-year period.

The normalized profit margin increased to 19.5% from 19.3% in the year-earlier period.

Total revenue decreased 16.5% on an annual basis to 55.2 million ringgits from 66.2 million ringgits, and total operating expenses declined 13.0% on an annual basis to 48.2 million ringgits from 55.4 million ringgits.

Reported net income decreased 26.9% on an annual basis to 12.6 million ringgits, or 3 sen per share, from 17.2 million ringgits, or 4 sen per share.

As of April 15, US$1 was equivalent to 3.71 ringgits.