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PRG Holdings Q2 profit climbs 30.8% YOY

PRG Holdings Berhad said its second-quarter normalized net income was 1.4 million ringgits, an increase of 30.8% from 1.1 million ringgits in the year-earlier period.

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

The normalized profit margin dropped to 2.4% from 3.3% in the year-earlier period.

Total revenue climbed 77.7% year over year to 59.0 million ringgits from 33.2 million ringgits, and total operating expenses increased 69.9% year over year to 53.1 million ringgits from 31.2 million ringgits.

Reported net income fell 11.9% from the prior-year period to 1.4 million ringgits, or 0 sen per share, from 1.6 million ringgits, or 0 sen per share.

As of Aug. 18, US$1 was equivalent to 4.29 ringgits.