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Yoong Onn fiscal Q1 profit falls YOY

Yoong Onn Corp. Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 was 2 Malaysian sen per share, a decrease of 35.5% from 3 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 2.9 million ringgits, a decrease of 35.4% from 4.5 million ringgits in the year-earlier period.

The normalized profit margin fell to 6.5% from 9.6% in the year-earlier period.

Total revenue fell 5.5% on an annual basis to 43.9 million ringgits from 46.5 million ringgits, and total operating expenses came to 39.1 million ringgits, compared with 39.1 million ringgits in the prior-year period.

Reported net income fell 36.5% on an annual basis to 3.3 million ringgits, or 2 sen per share, from 5.2 million ringgits, or 3 sen per share.

As of Nov. 26, US$1 was equivalent to 3.35 ringgits.