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Padini Holdings fiscal Q2 profit falls YOY

Padini Holdings Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 2 Malaysian sen per share, a decrease of 38.5% from 4 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 15.1 million ringgits, a decline of 38.5% from 24.5 million ringgits in the year-earlier period.

The normalized profit margin declined to 6.1% from 10.5% in the year-earlier period.

Total revenue climbed year over year to 245.6 million ringgits from 234.2 million ringgits, and total operating expenses rose 13.4% year over year to 223.2 million ringgits from 196.8 million ringgits.

Reported net income decreased 42.9% on an annual basis to 16.2 million ringgits, or 2 sen per share, from 28.4 million ringgits, or 4 sen per share.

As of Feb. 16, US$1 was equivalent to 3.58 ringgits.