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Sasbadi fiscal Q1 profit climbs 21.6% YOY

Sasbadi Holdings Berhad said its normalized net income for the fiscal first quarter ended Nov. 30, 2015, was 1.7 million ringgits, an increase of 21.6% from 1.4 million ringgits in the prior-year period.

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

The normalized profit margin dropped to 8.3% from 8.8% in the year-earlier period.

Total revenue climbed 28.8% on an annual basis to 21.0 million ringgits from 16.3 million ringgits, and total operating expenses grew 24.6% on an annual basis to 17.5 million ringgits from 14.1 million ringgits.

Reported net income increased 23.3% year over year to 2.0 million ringgits, or 1 sen per share, from 1.6 million ringgits, or 0 sen per share.

As of Jan. 27, US$1 was equivalent to 4.24 ringgits.