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Aeon Co. (M) Q1 profit falls YOY

Aeon Co. (M) Bhd said its normalized net income for the first quarter amounted to 2 Malaysian sen per share, a decline of 35.0% from 3 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 28.8 million ringgits, a decrease of 35.0% from 44.2 million ringgits in the year-earlier period.

The normalized profit margin fell to 2.7% from 4.0% in the year-earlier period.

Total revenue fell year over year to 1.08 billion ringgits from 1.11 billion ringgits, and total operating expenses came to 1.03 billion ringgits, compared with 1.04 billion ringgits in the prior-year period.

Reported net income declined 41.9% year over year to 28.7 million ringgits, or 2 sen per share, from 49.4 million ringgits, or 4 sen per share.

As of May 19, US$1 was equivalent to 4.09 ringgits.