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Kawan Food Q3 profit falls YOY

Kawan Food Bhd. said its normalized net income for the third quarter was 3 Malaysian sen per share, a decline of 9.8% from 3 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 8.8 million ringgits, a decline from 9.2 million ringgits in the year-earlier period.

The normalized profit margin declined to 18.6% from 21.4% in the year-earlier period.

Total revenue grew 9.5% year over year to 47.3 million ringgits from 43.2 million ringgits, and total operating expenses climbed from the prior-year period to 33.6 million ringgits from 33.0 million ringgits.

Reported net income totaled 12.3 million ringgits, or 4 sen per share, compared to 12.3 million ringgits, or 4 sen per share, in the year-earlier period.

As of Nov. 25, US$1 was equivalent to 4.44 ringgits.