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Latitude Tree fiscal Q1 profit climbs 25.7% YOY

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Latitude Tree fiscal Q1 profit climbs 25.7% YOY

Latitude Tree Holdings Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 12 Malaysian sen per share, an increase of 25.7% from 9 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 11.4 million ringgits, an increase of 25.7% from 9.1 million ringgits in the year-earlier period.

The normalized profit margin rose to 6.5% from 5.1% in the year-earlier period.

Total revenue totaled 175.7 million ringgits, compared with 177.1 million ringgits in the prior-year period, and total operating expenses totaled 156.6 million ringgits, compared with 155.3 million ringgits in the prior-year period.

Reported net income increased 14.0% from the prior-year period to 16.6 million ringgits, or 17 sen per share, from 14.6 million ringgits, or 15 sen per share.

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