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MHC Plantations Q3 profit climbs 57.7% YOY

MHC Plantations Bhd. said its normalized net income for the third quarter amounted to 3.9 million ringgits, a rise of 57.7% from 2.5 million ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 3.8% from 2.6% in the year-earlier period.

Total revenue increased 9.2% on an annual basis to 101.6 million ringgits from 93.1 million ringgits, and total operating expenses came to 82.8 million ringgits, compared with 83.4 million ringgits in the year-earlier period.

Reported net income increased 81.1% on an annual basis to 5.8 million ringgits, or 2 sen per share, from 3.2 million ringgits, or 1 sen per share.

As of Oct. 20, US$1 was equivalent to 4.19 ringgits.