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Cycle & Carriage Bintang Q4 profit climbs YOY

Cycle & Carriage Bintang Bhd. said its fourth-quarter normalized net income came to 9 Malaysian sen per share, a gain 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 8.6 million ringgits, an increase from 2.8 million ringgits in the year-earlier period.

The normalized profit margin increased to 2.2% from 1.0% in the year-earlier period.

Total revenue climbed 37.4% year over year to 387.6 million ringgits from 282.0 million ringgits, and total operating expenses rose 34.7% year over year to 373.8 million ringgits from 277.6 million ringgits.

Reported net income increased on an annual basis to 10.2 million ringgits, or 10 sen per share, from 3.3 million ringgits, or 3 sen per share.

For the year, the company's normalized net income totaled 43 sen per share, an increase from 10 sen per share in the prior year.

Normalized net income was 42.8 million ringgits, an increase from 9.7 million ringgits in the prior year.

Full-year total revenue grew 71.3% year over year to 1.58 billion ringgits from 922.5 million ringgits, and total operating expenses increased 68.0% on an annual basis to 1.52 billion ringgits from 906.4 million ringgits.

The company said reported net income grew on an annual basis to 52.1 million ringgits, or 52 sen per share, in the full year, from 10.3 million ringgits, or 10 sen per share.

As of March 28, US$1 was equivalent to 4.01 ringgits.