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Sungei Bagan Rubber fiscal Q1 profit falls YOY

Sungei Bagan Rubber Co. (Malaya) Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 was 5 Malaysian sen per share, a decrease of 11.1% from 5 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 3.1 million ringgits, a decrease from 3.2 million ringgits in the year-earlier period.

The normalized profit margin climbed to 112.0% from 99.4% in the year-earlier period.

Total revenue fell 13.5% year over year to 2.8 million ringgits from 3.2 million ringgits, and total operating expenses rose 48.9% year over year to 2.0 million ringgits from 1.3 million ringgits.

Reported net income totaled 4.8 million ringgits, or 7 sen per share, compared to 4.8 million ringgits, or 8 sen per share, in the year-earlier period.

As of Nov. 27, US$1 was equivalent to 3.35 ringgits.