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Magnum Bhd. Q1 profit climbs 7.9% YOY

Magnum Bhd. said its first-quarter normalized net income amounted to 5 Malaysian sen per share, an increase of 8.1% from 5 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 77.9 million ringgits, a gain of 7.9% from 72.1 million ringgits in the prior-year period.

The normalized profit margin rose to 9.8% from 9.1% in the year-earlier period.

Total revenue totaled 791.3 million ringgits, compared with 792.5 million ringgits in the prior-year period, and total operating expenses fell on an annual basis to 649.6 million ringgits from 660.9 million ringgits.

Reported net income grew 10.0% on an annual basis to 90.8 million ringgits, or 6 sen per share, from 82.5 million ringgits, or 6 sen per share.

As of May 28, US$1 was equivalent to 3.65 ringgits.