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Aeon Co. (M) Q1 profit climbs 6.0% YOY

Aeon Co. (M) Bhd. said its first-quarter normalized net income was 3 Malaysian sen per share, a gain of 6.1% from 3 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 44.2 million ringgits, an increase of 6.0% from 41.7 million ringgits in the prior-year period.

The normalized profit margin declined to 4.0% from 4.4% in the year-earlier period.

Total revenue climbed 17.1% year over year to 1.11 billion ringgits from 945.5 million ringgits, and total operating expenses increased 17.6% year over year to 1.04 billion ringgits from 880.0 million ringgits.

Reported net income grew 5.4% from the prior-year period to 49.4 million ringgits, or 4 sen per share, from 46.9 million ringgits, or 3 sen per share.

As of May 21, US$1 was equivalent to 3.60 ringgits.