TA Global Berhad said its fourth-quarter normalized net income amounted to 28.3 million ringgits, a fall of 29.2% from 40.0 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 climbed to 18.5% from 16.6% in the year-earlier period.

Total revenue decreased 36.5% on an annual basis to 152.7 million ringgits from 240.5 million ringgits, and total operating expenses grew year over year to 127.6 million ringgits from 122.1 million ringgits.

Reported net income fell 38.7% from the prior-year period to 30.9 million ringgits, or 1 sen per share, from 50.5 million ringgits, or 1 sen per share.

For the year, the company's normalized net income totaled 1 sen per share, a decrease of 23.1% from 2 sen per share in the prior year.

Normalized net income was 66.2 million ringgits, a fall of 23.2% from 86.2 million ringgits in the prior year.

Full-year total revenue decreased 8.1% from the prior-year period to 671.0 million ringgits from 730.0 million ringgits, and total operating expenses decreased year over year to 491.9 million ringgits from 512.9 million ringgits.

The company said reported net income fell 58.1% on an annual basis to 47.6 million ringgits, or 1 sen per share, in the full year, from 113.5 million ringgits, or 2 sen per share.

As of Feb. 29, US$1 was equivalent to 4.21 ringgits.