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MSM Malaysia Q1 profit climbs 25.3% YOY


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MSM Malaysia Q1 profit climbs 25.3% YOY

MSM Malaysia Holdings Bhd. said its normalized net income for the first quarter amounted to 8 Malaysian sen per share, an increase of 25.3% from 6 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 56.5 million ringgits, a gain of 25.3% from 45.0 million ringgits in the prior-year period.

The normalized profit margin climbed to 11.1% from 9.0% in the year-earlier period.

Total revenue increased on an annual basis to 508.5 million ringgits from 498.3 million ringgits, and total operating expenses fell on an annual basis to 420.0 million ringgits from 428.3 million ringgits.

Reported net income rose 26.1% on an annual basis to 71.0 million ringgits, or 10 sen per share, from 56.3 million ringgits, or 8 sen per share.

As of May 26, US$1 was equivalent to 3.64 ringgits.