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OldTown fiscal Q1 profit falls YOY

OldTown Berhad said its normalized net income for the fiscal first quarter ended June 30 came to 2 Malaysian sen per share, a decline of 6.1% 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 8.9 million ringgits, a decline of 6.2% from 9.5 million ringgits in the year-earlier period.

The normalized profit margin dropped to 8.9% from 10.4% in the year-earlier period.

Total revenue climbed 7.3% year over year to 97.9 million ringgits from 91.2 million ringgits, and total operating expenses climbed 9.2% year over year to 82.6 million ringgits from 75.7 million ringgits.

Reported net income fell from the prior-year period to 11.7 million ringgits, or 3 sen per share, from 12.2 million ringgits, or 3 sen per share.

As of Aug. 27, US$1 was equivalent to 3.15 ringgits.