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EP Manufacturing Q1 profit falls YOY

EP Manufacturing Bhd. said its normalized net income for the first quarter came to 2 Malaysian sen per share, a decline of 11.8% 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 2.5 million ringgits, a decline of 11.8% from 2.9 million ringgits in the year-earlier period.

The normalized profit margin declined to 1.9% from 2.5% in the year-earlier period.

Total revenue climbed 15.9% year over year to 134.8 million ringgits from 116.3 million ringgits, and total operating expenses rose 16.9% on an annual basis to 127.7 million ringgits from 109.3 million ringgits.

Reported net income declined 23.1% on an annual basis to 2.5 million ringgits, or 2 sen per share, from 3.3 million ringgits, or 2 sen per share.

As of April 24, US$1 was equivalent to 3.58 ringgits.