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7-Eleven Malaysia profit misses consensus by 41.8% in Q1

7-Eleven Malaysia Holdings Bhd. said its first-quarter normalized net income came to 12.7 million ringgits, an increase of 22.9% from 10.3 million ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 2.5% from 2.3% in the year-earlier period.

Total revenue grew 11.5% year over year to 505.0 million ringgits from 453.1 million ringgits, and total operating expenses increased 11.5% year over year to 484.6 million ringgits from 434.8 million ringgits.

Reported net income grew 23.7% on an annual basis to 14.4 million ringgits, or 1 sen per share, from 11.6 million ringgits, or 1 sen per share.

As of May 28, US$1 was equivalent to 3.65 ringgits.