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UMW Holdings Q4 profit climbs YOY

UMW Holdings Berhad said its fourth-quarter normalized net income amounted to 9 Malaysian sen per share, a gain from 2 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 100.1 million ringgits, a gain from 17.5 million ringgits in the year-earlier period.

The normalized profit margin increased to 2.4% from 0.5% in the year-earlier period.

Total revenue grew 13.7% on an annual basis to 4.19 billion ringgits from 3.68 billion ringgits, and total operating expenses climbed 22.4% from the prior-year period to 4.35 billion ringgits from 3.56 billion ringgits.

Reported net income came to a loss of 284.3 million ringgits, or a loss of 24 sen per share, compared to income of 77.5 million ringgits, or 7 sen per share, in the prior-year period.

For the year, the company's normalized net income totaled 28 sen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 37 sen.

EPS declined 20.5% from 35 sen in the prior year.

Normalized net income was 324.8 million ringgits, a fall of 20.5% from 408.6 million ringgits in the prior year.

Full-year total revenue declined year over year to 14.45 billion ringgits from 14.93 billion ringgits, and total operating expenses grew on an annual basis to 14.08 billion ringgits from 13.61 billion ringgits.

The company said reported net income came to a loss of 37.2 million ringgits, or a loss of 3 sen per share, in the full year, compared with income of 652.0 million ringgits, or 56 sen per share, the prior year.

As of April 14, US$1 was equivalent to 3.89 ringgits.