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Asia Brands fiscal Q2 profit falls YOY

Asia Brands Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 5 Malaysian sen per share, a decrease of 28.3% from 7 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 3.7 million ringgits, a decrease of 25.4% from 5.0 million ringgits in the prior-year period.

The normalized profit margin dropped to 4.0% from 5.5% in the year-earlier period.

Total revenue climbed on an annual basis to 92.3 million ringgits from 90.1 million ringgits, and total operating expenses increased 5.7% from the prior-year period to 83.9 million ringgits from 79.4 million ringgits.

Reported net income decreased 12.6% on an annual basis to 4.4 million ringgits, or 6 sen per share, from 5.0 million ringgits, or 7 sen per share.

As of Nov. 17, US$1 was equivalent to 3.35 ringgits.