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Homeritz fiscal Q1 profit falls YOY

Homeritz Corp. Bhd. said its normalized net income for the fiscal first quarter ended Nov. 30, 2014, was 1 Malaysian sen per share, a decline of 22.7% from 1 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 3.2 million ringgits, a decline of 22.6% from 4.1 million ringgits in the year-earlier period.

The normalized profit margin declined to 9.6% from 11.6% in the year-earlier period.

Total revenue fell 6.5% on an annual basis to 33.4 million ringgits from 35.7 million ringgits, and total operating expenses decreased year over year to 27.2 million ringgits from 27.8 million ringgits.

Reported net income fell 26.4% year over year to 4.3 million ringgits, or 1 sen per share, from 5.8 million ringgits, or 2 sen per share.

As of Jan. 29, US$1 was equivalent to 3.63 ringgits.