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LTKM Bhd. fiscal Q1 profit falls YOY

LTKM Bhd. said its normalized net income for the fiscal first quarter ended June 30 came to 2 Malaysian sen per share, a decline of 64.0% 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 2.2 million ringgits, a decrease of 64.0% from 6.2 million ringgits in the prior-year period.

The normalized profit margin declined to 5.5% from 13.7% in the year-earlier period.

Total revenue declined 9.9% year over year to 40.8 million ringgits from 45.2 million ringgits, and total operating expenses grew year over year to 37.7 million ringgits from 36.1 million ringgits.

Reported net income fell 65.6% year over year to 2.5 million ringgits, or 2 sen per share, from 7.1 million ringgits, or 5 sen per share.

As of Aug. 27, US$1 was equivalent to 4.19 ringgits.