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Cepatwawasan Group Q2 profit climbs 77.0% YOY

Cepatwawasan Group Bhd. said its second-quarter normalized net income amounted to 2 Malaysian sen per share, an increase of 77.0% from 1 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 7.3 million ringgits, an increase of 77.0% from 4.1 million ringgits in the prior-year period.

The normalized profit margin climbed to 10.3% from 8.0% in the year-earlier period.

Total revenue increased 37.2% year over year to 70.4 million ringgits from 51.3 million ringgits, and total operating expenses increased 30.6% year over year to 57.8 million ringgits from 44.2 million ringgits.

Reported net income grew 91.0% on an annual basis to 9.7 million ringgits, or 3 sen per share, from 5.1 million ringgits, or 2 sen per share.

As of Aug. 9, US$1 was equivalent to 4.29 ringgits.