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Berjaya Philippines fiscal Q1 profit climbs 17.0% YOY

Berjaya Philippines Inc. said its normalized net income for the fiscal first quarter ended July 31 was 4 Philippine centavos per share, a gain of 17.0% from 3 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 175.8 million pesos, an increase of 17.0% from 150.2 million pesos in the year-earlier period.

The normalized profit margin declined to 3.0% from 30.5% in the year-earlier period.

Total revenue grew on an annual basis to 6.46 billion pesos from 493.2 million pesos, and total operating expenses climbed on an annual basis to 6.15 billion pesos from 266.4 million pesos.

Reported net income declined 5.4% on an annual basis to 205.5 million pesos, or 5 centavos per share, from 217.1 million pesos, or 5 centavos per share.

As of Sept. 15, US$1 was equivalent to 44.08 Philippine pesos.