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Rubberex Q2 profit falls YOY

Rubberex Corp. (M) Bhd. said its normalized net income for the second quarter came to 2.2 million ringgits, a decline of 24.2% from 2.9 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 fell to 2.2% from 3.9% in the year-earlier period.

Total revenue rose 31.0% year over year to 99.8 million ringgits from 76.1 million ringgits, and total operating expenses climbed 34.4% on an annual basis to 95.1 million ringgits from 70.8 million ringgits.

Reported net income decreased 35.9% on an annual basis to 2.4 million ringgits, or 1 sen per share, from 3.7 million ringgits, or 2 sen per share.

As of Aug. 21, US$1 was equivalent to 4.29 ringgits.