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Negri Sembilan Oil Palms Q3 profit climbs 19.4% YOY

Negri Sembilan Oil Palms Berhad said its third-quarter normalized net income came to 3 Malaysian sen per share, an increase of 19.3% 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 1.8 million ringgits, an increase of 19.4% from 1.5 million ringgits in the year-earlier period.

The normalized profit margin increased to 7.2% from 6.4% in the year-earlier period.

Total revenue fell year over year to 23.4 million ringgits from 24.1 million ringgits, and total operating expenses came to 22.1 million ringgits, compared with 22.0 million ringgits in the prior-year period.

Reported net income rose 59.7% on an annual basis to 3.4 million ringgits, or 5 sen per share, from 2.1 million ringgits, or 3 sen per share.

As of Nov. 26, US$1 was equivalent to 4.23 ringgits.