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Multi Bintang Indonesia Q1 profit falls YOY

PT Multi Bintang Indonesia Tbk said its first-quarter normalized net income amounted to 42.79 rupiah per share, a decline of 41.4% from 73.07 rupiah per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 90.16 billion rupiah, a decrease of 41.4% from 153.96 billion rupiah in the prior-year period.

The normalized profit margin dropped to 15.8% from 20.9% in the year-earlier period.

Total revenue declined 22.9% on an annual basis to 568.99 billion rupiah from 738.14 billion rupiah, and total operating expenses decreased 9.0% on an annual basis to 416.59 billion rupiah from 457.71 billion rupiah.

Reported net income declined 41.7% year over year to 107.33 billion rupiah, or 50.94 rupiah per share, from 184.18 billion rupiah, or 87.42 rupiah per share.

As of April 30, US$1 was equivalent to 12,980 rupiah.