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Magnum Bhd. Q3 profit climbs 38.8% YOY

Magnum Bhd. said its third-quarter normalized net income amounted to 3 Malaysian sen per share, a gain of 38.9% from 2 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 48.3 million ringgits, a gain of 38.8% from 34.8 million ringgits in the prior-year period.

The normalized profit margin rose to 7.5% from 5.3% in the year-earlier period.

Total revenue declined year over year to 647.2 million ringgits from 660.2 million ringgits, and total operating expenses fell 5.9% from the prior-year period to 555.7 million ringgits from 590.7 million ringgits.

Reported net income grew 44.9% on an annual basis to 55.0 million ringgits, or 4 sen per share, from 38.0 million ringgits, or 3 sen per share.

As of Nov. 24, US$1 was equivalent to 4.40 ringgits.