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Marco Holdings Q2 profit falls YOY

Marco Holdings Berhad said its second-quarter normalized net income amounted to 2.5 million ringgits, a decline of 27.3% from 3.4 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 fell to 7.0% from 7.4% in the year-earlier period.

Total revenue declined 23.7% year over year to 34.9 million ringgits from 45.7 million ringgits, and total operating expenses decreased 23.4% on an annual basis to 31.3 million ringgits from 40.8 million ringgits.

Reported net income decreased 24.3% year over year to 2.9 million ringgits, or 0 sen per share, from 3.9 million ringgits, or 0 sen per share.

As of Aug. 18, US$1 was equivalent to 4.29 ringgits.