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Yoong Onn fiscal Q3 profit falls YOY

Yoong Onn Corp. Bhd. said its normalized net income for the fiscal third quarter ended March 31 came to 3 Malaysian sen per share, a decline of 8.9% from 4 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 5.1 million ringgits, a decrease of 8.9% from 5.6 million ringgits in the prior-year period.

The normalized profit margin dropped to 9.8% from 10.6% in the year-earlier period.

Total revenue totaled 52.4 million ringgits, compared with 52.9 million ringgits in the prior-year period, and total operating expenses came to 43.9 million ringgits, compared with 43.7 million ringgits in the year-earlier period.

Reported net income declined 16.2% year over year to 5.7 million ringgits, or 4 sen per share, from 6.8 million ringgits, or 4 sen per share.

As of May 26, US$1 was equivalent to 4.06 ringgits.