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London Biscuits fiscal Q2 profit falls YOY

London Biscuits Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 1 Malaysian sen per share, a decline of 45.9% from 2 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 2.4 million ringgits, a decrease of 31.1% from 3.5 million ringgits in the year-earlier period.

The normalized profit margin dropped to 2.8% from 3.8% in the year-earlier period.

Total revenue declined year over year to 90.0 million ringgits from 92.3 million ringgits, and total operating expenses totaled 80.8 million ringgits, compared with 81.3 million ringgits in the prior-year period.

Reported net income fell 28.7% on an annual basis to 3.5 million ringgits, or 2 sen per share, from 4.9 million ringgits, or 3 sen per share.

As of Feb. 27, US$1 was equivalent to 3.61 ringgits.