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SHH Resources fiscal Q2 profit climbs 16.2% YOY

SHH Resources Holdings Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 3 Malaysian sen per share, an increase of 16.2% from 2 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 1.3 million ringgits, an increase of 16.2% from 1.1 million ringgits in the prior-year period.

The normalized profit margin increased to 4.9% from 3.9% in the year-earlier period.

Total revenue declined 8.0% on an annual basis to 25.4 million ringgits from 27.6 million ringgits, and total operating expenses decreased 9.6% year over year to 23.3 million ringgits from 25.7 million ringgits.

Reported net income declined 36.5% from the prior-year period to 895,000 ringgits, or 2 sen per share, from 1.4 million ringgits, or 3 sen per share.

As of Feb. 25, US$1 was equivalent to 3.60 ringgits.