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CCK Consolidated Q1 profit falls YOY

CCK Consolidated Holdings Bhd. said its normalized net income for the first quarter came to 2.2 million ringgits, a fall of 15.5% from 2.6 million ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 1.8% from 2.2% in the year-earlier period.

Total revenue rose 5.8% on an annual basis to 124.2 million ringgits from 117.3 million ringgits, and total operating expenses grew 6.3% from the prior-year period to 121.6 million ringgits from 114.4 million ringgits.

Reported net income decreased 14.3% on an annual basis to 2.7 million ringgits, or 1 sen per share, from 3.1 million ringgits, or 1 sen per share.

As of May 27, US$1 was equivalent to 3.65 ringgits.