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Gopeng Q2 profit climbs 64.4% YOY

Gopeng Bhd. said its normalized net income for the second quarter was 681,520 ringgits, an increase of 64.4% from 414,470 ringgits in the prior-year period.

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

The normalized profit margin rose to 29.0% from 15.9% in the year-earlier period.

Total revenue declined 9.5% year over year to 2.4 million ringgits from 2.6 million ringgits, and total operating expenses fell 36.3% year over year to 1.3 million ringgits from 2.0 million ringgits.

Reported net income rose 64.4% from the prior-year period to 1.1 million ringgits, or 1 sen per share, from 663,150 ringgits, or 0 sen per share.

As of Aug. 24, US$1 was equivalent to 4.04 ringgits.