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Oriental Food Industries fiscal Q3 profit climbs 32.2% YOY

Oriental Food Industries Holdings Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 2 Malaysian sen per share, a gain of 32.2% 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 5.4 million ringgits, an increase of 32.2% from 4.1 million ringgits in the year-earlier period.

The normalized profit margin rose to 8.6% from 6.7% in the year-earlier period.

Total revenue rose on an annual basis to 63.3 million ringgits from 61.4 million ringgits, and total operating expenses totaled 54.5 million ringgits, compared with 54.8 million ringgits in the year-earlier period.

Reported net income increased 50.4% from the prior-year period to 7.3 million ringgits, or 3 sen per share, from 4.9 million ringgits, or 2 sen per share.

As of Feb. 25, US$1 was equivalent to 3.60 ringgits.