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Malayan Flour Mills Q2 profit falls YOY

Malayan Flour Mills Bhd. said its second-quarter normalized net income was 2 Malaysian sen per share, a decline of 6.2% from 2 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 9.3 million ringgits, a decline of 6.2% from 10.0 million ringgits in the year-earlier period.

The normalized profit margin declined to 1.7% from 1.8% in the year-earlier period.

Total revenue fell 5.0% year over year to 535.6 million ringgits from 563.8 million ringgits, and total operating expenses decreased 5.6% from the prior-year period to 511.9 million ringgits from 542.1 million ringgits.

Reported net income declined 6.3% year over year to 12.7 million ringgits, or 2 sen per share, from 13.6 million ringgits, or 3 sen per share.

As of Aug. 6, US$1 was equivalent to 3.91 ringgits.