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UMW Holdings Q1 profit falls YOY

UMW Holdings Berhad said its normalized net income for the first quarter amounted to 11 Malaysian sen per share, a decline of 9.7% from 12 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 129.2 million ringgits, a decrease of 9.7% from 143.1 million ringgits in the year-earlier period.

The normalized profit margin declined to 4.0% from 4.0% in the year-earlier period.

Total revenue fell 9.6% on an annual basis to 3.24 billion ringgits from 3.58 billion ringgits, and total operating expenses declined 6.1% from the prior-year period to 2.96 billion ringgits from 3.15 billion ringgits.

Reported net income declined 29.9% year over year to 165.2 million ringgits, or 14 sen per share, from 235.5 million ringgits, or 20 sen per share.

As of May 26, US$1 was equivalent to 3.64 ringgits.