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Felda Global Ventures profit misses consensus by 84.1% in Q1

4930144 said its normalized net income for the first quarter came to 5.8 million ringgits, a decrease of 95.2% from 121.3 million 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 fell to 0.7% from 3.5% in the year-earlier period.

Total revenue decreased 15.4% year over year to 2.96 billion ringgits from 3.51 billion ringgits, and total operating expenses decreased 10.0% year over year to 2.91 billion ringgits from 3.23 billion ringgits.

eported net income fell 97.1% on an annual basis Felda Global Ventures Holdings Bhd.