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Genting Malaysia Q3 profit climbs 22.6% YOY

Genting Malaysia Berhad said its normalized net income for the third quarter amounted to 6 Malaysian sen per share, compared with the S&P Capital IQ consensus estimate of 5 sen per share.

EPS climbed 22.7% year over year from 5 sen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 321.0 million ringgits, a gain of 22.6% from 261.7 million ringgits in the prior-year period.

The normalized profit margin increased to 14.6% from 12.9% in the year-earlier period.

Total revenue increased 8.5% year over year to 2.20 billion ringgits from 2.03 billion ringgits, and total operating expenses increased 5.4% year over year to 1.71 billion ringgits from 1.62 billion ringgits.

Reported net income rose 70.3% from the prior-year period to 555.6 million ringgits, or 10 sen per share, from 326.3 million ringgits, or 6 sen per share.

As of Nov. 24, US$1 was equivalent to 4.40 ringgits.