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Marco Holdings Q2 profit climbs 29.5% YOY

Marco Holdings Berhad said its second-quarter normalized net income came to 4.2 million ringgits, a rise of 29.5% from 3.2 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 increased to 11.6% from 9.8% in the year-earlier period.

Total revenue grew 9.1% year over year to 36.1 million ringgits from 33.1 million ringgits, and total operating expenses increased 6.4% year over year to 29.9 million ringgits from 28.1 million ringgits.

Reported net income grew 48.5% year over year to 5.1 million ringgits, or 0 sen per share, from 3.4 million ringgits, or 0 sen per share.

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