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Amway (Malaysia) Holdings Q2 profit falls YOY

Amway (Malaysia) Holdings Bhd. said its second-quarter normalized net income came to 5 Malaysian sen per share, a decrease of 62.2% from 13 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 8.3 million ringgits, a decrease of 62.2% from 22.0 million ringgits in the prior-year period.

The normalized profit margin fell to 4.4% from 11.4% in the year-earlier period.

Total revenue decreased year over year to 188.0 million ringgits from 193.5 million ringgits, and total operating expenses climbed 10.6% from the prior-year period to 176.5 million ringgits from 159.5 million ringgits.

Reported net income decreased 60.9% year over year to 10.2 million ringgits, or 6 sen per share, from 26.1 million ringgits, or 16 sen per share.

As of Aug. 19, US$1 was equivalent to 4.10 ringgits.