Kuala Lumpur Kepong Bhd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, amounted to 16 Malaysian sen per share, compared with the S&P Capital IQ consensus estimate of 23 sen per share.
EPS fell 24.5% year over year from 21 sen.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 170.8 million ringgits, a decrease of 24.5% from 226.3 million ringgits in the prior-year period.
The normalized profit margin declined to 5.5% from 9.1% in the year-earlier period.
Total revenue climbed 24.9% year over year to 3.11 billion ringgits from 2.49 billion ringgits, and total operating expenses grew 33.5% on an annual basis to 2.80 billion ringgits from 2.10 billion ringgits.
Reported net income declined 26.8% year over year to 214.2 million ringgits, or 20 sen per share, from 292.7 million ringgits, or 27 sen per share.
As of Feb. 16, US$1 was equivalent to 3.58 ringgits.
