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United Malacca fiscal Q2 profit falls YOY

United Malacca Berhad said its normalized net income for the fiscal second quarter ended Oct. 31 came to 5 Malaysian sen per share, a decrease of 11.1% from 5 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 9.6 million ringgits, a decrease of 10.3% from 10.7 million ringgits in the prior-year period.

The normalized profit margin increased to 19.3% from 18.2% in the year-earlier period.

Total revenue decreased 15.4% on an annual basis to 49.9 million ringgits from 59.0 million ringgits, and total operating expenses decreased 16.3% year over year to 36.2 million ringgits from 43.3 million ringgits.

Reported net income fell 10.5% year over year to 12.3 million ringgits, or 6 sen per share, from 13.7 million ringgits, or 7 sen per share.

As of Dec. 15, US$1 was equivalent to 4.32 ringgits.