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Magnum Bhd. Q3 profit falls YOY

Magnum Bhd. said its normalized net income for the third quarter amounted to 2 Malaysian sen per share, a decrease of 24.4% 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 34.8 million ringgits, a decrease of 24.5% from 46.1 million ringgits in the year-earlier period.

The normalized profit margin dropped to 5.3% from 6.9% in the year-earlier period.

Total revenue fell year over year to 660.2 million ringgits from 670.0 million ringgits, and total operating expenses increased year over year to 590.7 million ringgits from 582.5 million ringgits.

Reported net income declined 16.4% from the prior-year period to 38.0 million ringgits, or 3 sen per share, from 45.4 million ringgits, or 3 sen per share.

As of Nov. 20, US$1 was equivalent to 4.27 ringgits.