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Chin Teck Plantations fiscal Q3 profit falls YOY

Chin Teck Plantations Bhd. said its normalized net income for the fiscal third quarter ended May 31 amounted to 8 Malaysian sen per share, a decline of 9.4% from 8 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 7.0 million ringgits, a decline of 9.4% from 7.7 million ringgits in the year-earlier period.

The normalized profit margin declined to 22.0% from 26.0% in the year-earlier period.

Total revenue grew 7.4% on an annual basis to 31.9 million ringgits from 29.7 million ringgits, and total operating expenses climbed 33.7% year over year to 26.9 million ringgits from 20.2 million ringgits.

Reported net income came to 9.8 million ringgits, or 11 sen per share, compared to 9.7 million ringgits, or 11 sen per share, in the year-earlier period.

As of July 30, US$1 was equivalent to 3.82 ringgits.