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OldTown fiscal Q3 profit falls YOY

OldTown Berhad said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 2 Malaysian sen per share, a decrease 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 10.7 million ringgits, a decline from 11.1 million ringgits in the prior-year period.

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

Total revenue fell on an annual basis to 102.2 million ringgits from 105.7 million ringgits, and total operating expenses declined from the prior-year period to 85.7 million ringgits from 88.1 million ringgits.

Reported net income fell 23.0% year over year to 11.1 million ringgits, or 2 sen per share, from 14.4 million ringgits, or 3 sen per share.

As of Feb. 25, US$1 was equivalent to 4.22 ringgits.