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Zhulian Corp fiscal Q2 profit falls YOY

Zhulian Corp. Bhd. said its normalized net income for the fiscal second quarter ended May 31 was 2 Malaysian sen per share, a decline of 24.0% 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 7.0 million ringgits, a decline of 24.0% from 9.2 million ringgits in the year-earlier period.

The normalized profit margin declined to 14.8% from 16.6% in the year-earlier period.

Total revenue decreased 14.6% on an annual basis to 47.2 million ringgits from 55.3 million ringgits, and total operating expenses declined 30.0% from the prior-year period to 32.8 million ringgits from 46.8 million ringgits.

Reported net income decreased 28.5% year over year to 7.9 million ringgits, or 2 sen per share, from 11.1 million ringgits, or 2 sen per share.

As of July 13, US$1 was equivalent to 3.96 ringgits.