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CAM Resources Q3 profit falls YOY

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CAM Resources Q3 profit falls YOY

CAM Resources Berhad said its normalized net income for the third quarter was 1.3 million ringgits, a decline of 13.5% from 1.5 million ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 2.5% from 2.5% in the year-earlier period.

Total revenue decreased 11.3% on an annual basis to 53.9 million ringgits from 60.8 million ringgits, and total operating expenses declined 10.7% year over year to 52.2 million ringgits from 58.5 million ringgits.

Reported net income declined 30.0% year over year to 1.4 million ringgits, or 1 sen per share, from 2.1 million ringgits, or 1 sen per share.

As of Nov. 25, US$1 was equivalent to 4.44 ringgits.