Fiamma Holdings Bhd. said its normalized net income for the fiscal third quarter ended June 30 was 1 Malaysian sen per share, a decline of 19.3% 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 5.3 million ringgits, a decrease of 18.9% from 6.6 million ringgits in the year-earlier period.

The normalized profit margin dropped to 6.7% from 8.5% in the year-earlier period.

Total revenue grew on an annual basis to 79.5 million ringgits from 77.7 million ringgits, and total operating expenses increased 7.3% on an annual basis to 69.2 million ringgits from 64.4 million ringgits.

Reported net income declined 24.5% on an annual basis to 6.0 million ringgits, or 1 sen per share, from 7.9 million ringgits, or 2 sen per share.

As of Aug. 25, US$1 was equivalent to 4.03 ringgits.