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Kluang Rubber fiscal Q2 profit falls YOY

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Kluang Rubber fiscal Q2 profit falls YOY

Kluang Rubber Co. (Malaya) Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 1 Malaysian sen per share, a decrease of 5.6% 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 932,130 ringgits, a decrease of 5.8% from 989,500 ringgits in the year-earlier period.

The normalized profit margin dropped to 15.5% from 16.7% in the year-earlier period.

Total revenue grew 6.5% year over year to 6.3 million ringgits from 5.9 million ringgits, and total operating expenses increased 33.0% from the prior-year period to 3.3 million ringgits from 2.5 million ringgits.

Reported net income increased year over year to 2.1 million ringgits, or 3 sen per share, from 937,000 ringgits, or 1 sen per share.

As of Feb. 26, US$1 was equivalent to 4.20 ringgits.