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D.B.E. Gurney Resources Q2 profit falls YOY

D.B.E. Gurney Resources Bhd. said its normalized net income for the second quarter was 27,500 ringgits, a fall of 65.4% from 79,380 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 dropped to 0.1% from 0.3% in the year-earlier period.

Total revenue climbed 7.5% year over year to 28.4 million ringgits from 26.4 million ringgits, and total operating expenses grew 7.7% on an annual basis to 28.0 million ringgits from 26.0 million ringgits.

Reported net income declined 65.4% year over year to 44,000 ringgits, or 0 sen per share, from 127,000 ringgits, or 0 sen per share.

As of Aug. 9, US$1 was equivalent to 4.29 ringgits.