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MCE Holdings fiscal Q2 profit climbs 33.9% YOY

MCE Holdings Bhd. said its normalized net income for the fiscal second quarter ended Jan. 31 amounted to 2 Malaysian sen per share, a gain of 33.8% from 2 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 892,500 ringgits, an increase of 33.9% from 666,750 ringgits in the prior-year period.

The normalized profit margin increased to 3.8% from 2.3% in the year-earlier period.

Total revenue declined 17.7% year over year to 23.6 million ringgits from 28.6 million ringgits, and total operating expenses declined 20.3% year over year to 22.2 million ringgits from 27.8 million ringgits.

Reported net income grew 44.4% on an annual basis to 923,000 ringgits, or 2 sen per share, from 639,000 ringgits, or 1 sen per share.

As of March 27, US$1 was equivalent to 3.68 ringgits.