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MESB Bhd. fiscal Q3 profit falls YOY

MESB Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 299,380 ringgits, a decline of 66.0% from 881,250 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 declined to 0.9% from 3.9% in the year-earlier period.

Total revenue increased 44.0% on an annual basis to 32.4 million ringgits from 22.5 million ringgits, and total operating expenses climbed 45.5% year over year to 31.3 million ringgits from 21.5 million ringgits.

Reported net income decreased 55.7% from the prior-year period to 287,000 ringgits, or 0 sen per share, from 648,000 ringgits, or 1 sen per share.

As of Feb. 29, US$1 was equivalent to 4.21 ringgits.