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Nestlé (Malaysia) Q2 profit falls YOY

Nestlé (Malaysia) Bhd. said its normalized net income for the second quarter amounted to 57 Malaysian sen per share, a decrease of 5.1% from 60 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 132.8 million ringgits, a decrease of 5.1% from 139.9 million ringgits in the prior-year period.

The normalized profit margin dropped to 10.3% from 11.3% in the year-earlier period.

Total revenue grew year over year to 1.28 billion ringgits from 1.24 billion ringgits, and total operating expenses climbed 5.6% from the prior-year period to 1.06 billion ringgits from 1.01 billion ringgits.

Reported net income fell 14.2% year over year to 162.1 million ringgits, or 69 sen per share, from 188.8 million ringgits, or 81 sen per share.

As of Aug. 21, US$1 was equivalent to 4.29 ringgits.