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Tomei Consolidated Q1 profit climbs 51.9% YOY

Tomei Consolidated Bhd. said its normalized net income for the first quarter amounted to 4 Malaysian sen per share, an increase of 51.9% from 3 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 5.5 million ringgits, an increase of 51.9% from 3.6 million ringgits in the prior-year period.

The normalized profit margin increased to 3.2% from 2.3% in the year-earlier period.

Total revenue climbed 7.8% on an annual basis to 169.6 million ringgits from 157.4 million ringgits, and total operating expenses climbed 6.1% from the prior-year period to 157.7 million ringgits from 148.5 million ringgits.

Reported net income increased 33.3% year over year to 5.5 million ringgits, or 4 sen per share, from 4.1 million ringgits, or 3 sen per share.

As of May 19, US$1 was equivalent to 3.61 ringgits.