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RGB International Q3 profit falls YOY

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RGB International Q3 profit falls YOY

RGB International Bhd. said its third-quarter normalized net income came to 4.2 million ringgits, a fall from 4.4 million ringgits in the prior-year period.

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

The normalized profit margin dropped to 5.3% from 7.2% in the year-earlier period.

Total revenue climbed 29.5% year over year to 79.7 million ringgits from 61.5 million ringgits, and total operating expenses grew 35.7% year over year to 71.6 million ringgits from 52.8 million ringgits.

Reported net income declined 8.0% year over year to 5.8 million ringgits, or 0 sen per share, from 6.3 million ringgits, or 1 sen per share.

As of Nov. 23, US$1 was equivalent to 4.28 ringgits.