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Oriental Holdings Q2 profit climbs YOY

Oriental Holdings Bhd. said its second-quarter normalized net income came to 8 Malaysian sen per share, a gain from 7 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 47.2 million ringgits, a gain from 46.0 million ringgits in the year-earlier period.

The normalized profit margin declined to 4.5% from 5.2% in the year-earlier period.

Total revenue grew 18.1% year over year to 1.05 billion ringgits from 889.3 million ringgits, and total operating expenses rose 19.1% on an annual basis to 989.4 million ringgits from 831.1 million ringgits.

Reported net income increased 14.4% from the prior-year period to 59.1 million ringgits, or 10 sen per share, from 51.6 million ringgits, or 8 sen per share.

As of Aug. 19, US$1 was equivalent to 4.10 ringgits.