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SYF Resources fiscal Q3 profit falls YOY

SYF Resources Bhd. said its normalized net income for the fiscal third quarter ended April 30 amounted to 5.5 million ringgits, a decrease from 5.6 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 declined to 7.0% from 7.5% in the year-earlier period.

Total revenue rose 5.4% year over year to 78.8 million ringgits from 74.8 million ringgits, and total operating expenses increased 6.1% from the prior-year period to 68.7 million ringgits from 64.8 million ringgits.

Reported net income declined 13.3% on an annual basis to 6.4 million ringgits, or 1 sen per share, from 7.4 million ringgits, or 1 sen per share.

As of June 23, US$1 was equivalent to 3.75 ringgits.