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Prestariang Q1 profit climbs YOY

Prestariang Bhd. said its normalized net income for the first quarter was 2.5 million ringgits, a gain from 2.5 million ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 6.2% from 6.3% in the year-earlier period.

Total revenue climbed on an annual basis to 40.7 million ringgits from 40.0 million ringgits, and total operating expenses climbed from the prior-year period to 37.8 million ringgits from 36.9 million ringgits.

Reported net income decreased 24.3% year over year to 3.0 million ringgits, or 1 sen per share, from 4.0 million ringgits, or 1 sen per share.

As of May 25, US$1 was equivalent to 4.10 ringgits.