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MSM Malaysia Q3 profit climbs 31.0% YOY

MSM Malaysia Holdings Bhd. said its third-quarter normalized net income amounted to 8 Malaysian sen per share, an increase of 31.1% from 6 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 52.8 million ringgits, a gain of 31.0% from 40.3 million ringgits in the prior-year period.

The normalized profit margin increased to 9.7% from 7.2% in the year-earlier period.

Total revenue declined year over year to 546.5 million ringgits from 559.7 million ringgits, and total operating expenses decreased 7.8% on an annual basis to 459.7 million ringgits from 498.8 million ringgits.

Reported net income grew 33.2% from the prior-year period to 63.9 million ringgits, or 9 sen per share, from 48.0 million ringgits, or 7 sen per share.

As of Nov. 25, US$1 was equivalent to 4.21 ringgits.