Carlsberg Brewery Malaysia Bhd. said its normalized net income for the first quarter was 12 Malaysian sen per share, a decrease of 10.3% from 14 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 37.9 million ringgits, a decrease of 10.3% from 42.2 million ringgits in the prior-year period.

The normalized profit margin dropped to 8.8% from 9.5% in the year-earlier period.

Total revenue decreased year over year to 429.5 million ringgits from 445.9 million ringgits, and total operating expenses decreased year over year to 369.5 million ringgits from 378.0 million ringgits.

Reported net income fell 9.8% on an annual basis to 47.2 million ringgits, or 15 sen per share, from 52.3 million ringgits, or 17 sen per share.

As of May 25, US$1 was equivalent to 3.62 ringgits.