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JCY International fiscal Q1 profit falls YOY

JCY International Berhad said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to 1 Malaysian sen per share, a decline of 13.9% 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 27.4 million ringgits, a decrease of 14.0% from 31.9 million ringgits in the prior-year period.

The normalized profit margin declined to 5.2% from 6.5% in the year-earlier period.

Total revenue increased 8.3% on an annual basis to 528.2 million ringgits from 487.9 million ringgits, and total operating expenses climbed 5.8% on an annual basis to 479.5 million ringgits from 453.2 million ringgits.

Reported net income fell 17.8% year over year to 41.3 million ringgits, or 2 sen per share, from 50.3 million ringgits, or 2 sen per share.

As of Feb. 26, US$1 was equivalent to 4.20 ringgits.