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Oriental Holdings Q3 profit falls YOY

Oriental Holdings Berhad said its third-quarter normalized net income amounted to 8 Malaysian sen per share, a decrease of 12.7% from 10 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 52.6 million ringgits, a decline of 12.7% from 60.3 million ringgits in the year-earlier period.

The normalized profit margin dropped to 3.8% from 5.0% in the year-earlier period.

Total revenue rose 15.1% year over year to 1.38 billion ringgits from 1.20 billion ringgits, and total operating expenses grew 15.6% on an annual basis to 1.30 billion ringgits from 1.12 billion ringgits.

Reported net income decreased 8.5% year over year to 68.4 million ringgits, or 11 sen per share, from 74.8 million ringgits, or 12 sen per share.

As of Nov. 17, US$1 was equivalent to 4.38 ringgits.