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Berjaya Assets fiscal Q2 profit falls YOY

Berjaya Assets Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 8.0 million ringgits, a decrease of 42.4% from 13.8 million 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 climbed to 24.1% from 13.1% in the year-earlier period.

Total revenue totaled 106.1 million ringgits, compared with 105.7 million ringgits in the prior-year period, and total operating expenses increased on an annual basis to 83.0 million ringgits from 80.2 million ringgits.

Reported net income rose year over year to 40.5 million ringgits, or 2 sen per share, from 16.3 million ringgits, or 1 sen per share.

As of Feb. 11, US$1 was equivalent to 3.63 ringgits.