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PLS Plantations fiscal Q3 profit falls YOY

PLS Plantations Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 631,880 ringgits, a decline of 41.4% from 1.1 million ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 7.9% from 6.1% in the year-earlier period.

Total revenue decreased 54.3% year over year to 8.0 million ringgits from 17.5 million ringgits, and total operating expenses fell 12.7% from the prior-year period to 13.4 million ringgits from 15.3 million ringgits.

Reported net income came to a loss of 371,000 ringgits, or a loss of 0 sen per share, compared to a loss of 76,000 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Feb. 24, US$1 was equivalent to 4.24 ringgits.