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Only World Group fiscal Q2 profit climbs 33.7% YOY

Only World Group Holdings Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 2 Malaysian sen per share, an increase of 33.7% from 2 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.6 million ringgits, a gain of 33.7% from 3.4 million ringgits in the prior-year period.

The normalized profit margin rose to 16.2% from 13.9% in the year-earlier period.

Total revenue grew 15.4% on an annual basis to 28.3 million ringgits from 24.6 million ringgits, and total operating expenses grew 9.5% from the prior-year period to 20.5 million ringgits from 18.7 million ringgits.

Reported net income increased 28.3% year over year to 5.3 million ringgits, or 2 sen per share, from 4.2 million ringgits, or 2 sen per share.

As of Feb. 19, US$1 was equivalent to 4.22 ringgits.