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OldTown fiscal Q2 profit climbs 8.8% YOY

OldTown Berhad said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 2 Malaysian sen per share, an increase of 6.2% 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 8.9 million ringgits, an increase of 8.8% from 8.2 million ringgits in the prior-year period.

The normalized profit margin increased to 9.6% from 8.7% in the year-earlier period.

Total revenue declined on an annual basis to 92.6 million ringgits from 94.3 million ringgits, and total operating expenses fell on an annual basis to 79.7 million ringgits from 80.6 million ringgits.

Reported net income grew 18.7% year over year to 13.4 million ringgits, or 3 sen per share, from 11.3 million ringgits, or 3 sen per share.

As of Nov. 25, US$1 was equivalent to 4.21 ringgits.