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OCB Q1 profit falls YOY

4910357 said its normalized net income for the first quarter amounted to 1 Malaysian sen per share, a decline from 1 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 1.5 million ringgits, a decline from 1.5 million ringgits in the prior-year period.

The normalized profit margin declined to 2.0% from 2.5% in the year-earlier period.

Total revenue rose 19.6% year over year to 71.6 million ringgits from 59.9 million ringgits, and total operating expenses climbed 21.0% on an annual basis to 68.3 million ringgits from 56.5 million ringgits.

Reported net income decreased 31.8% from the prior-year period to 1.2 million ringgits, or 1 sen per share, from 1.7 million ringgits, or 2 sen per share.

s of May 26, US$1 was equivalent to 3.64 ringgits.OCB Bhd.

4910357 said its normalized net income for the first quarter amounted to 1 Malaysian sen per share, a decline from 1 sen per share in the year-earlier period.