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Yong Tai fiscal Q3 profit climbs YOY

Yong Tai Bhd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 1.1 million ringgits, a rise from 157,500 ringgits in the year-earlier period.

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

The normalized profit margin rose to 10.1% from 1.0% in the year-earlier period.

Total revenue fell 17.7% year over year to 12.9 million ringgits from 15.7 million ringgits, and total operating expenses decreased 47.2% from the prior-year period to 8.1 million ringgits from 15.3 million ringgits.

Reported net income totaled 613,260 ringgits, or 0 sen per share, compared to a loss of 216,620 ringgits, or a loss of 1 sen per share, in the prior-year period.

As of May 19, US$1 was equivalent to 4.09 ringgits.