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Rubberex Q1 profit climbs 19.0% YOY

Rubberex Corp. (M) Bhd. said its normalized net income for the first quarter amounted to 1 Malaysian sen per share, a gain of 17.9% from 1 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 3.2 million ringgits, an increase of 19.0% from 2.7 million ringgits in the year-earlier period.

The normalized profit margin increased to 4.3% from 3.8% in the year-earlier period.

Total revenue rose 5.3% year over year to 74.5 million ringgits from 70.7 million ringgits, and total operating expenses rose from the prior-year period to 68.6 million ringgits from 65.7 million ringgits.

Reported net income increased 28.9% year over year to 3.6 million ringgits, or 2 sen per share, from 2.8 million ringgits, or 1 sen per share.

As of May 23, US$1 was equivalent to 4.09 ringgits.