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TH Plantations Q2 profit climbs YOY

TH Plantations Bhd. said its second-quarter normalized net income came to 4.1 million ringgits, a gain from 1.5 million ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 2.7% from 1.1% in the year-earlier period.

Total revenue grew 17.4% year over year to 155.4 million ringgits from 132.4 million ringgits, and total operating expenses rose 8.2% year over year to 131.4 million ringgits from 121.4 million ringgits.

Reported net income declined 5.8% from the prior-year period to 7.2 million ringgits, or 1 sen per share, from 7.6 million ringgits, or 1 sen per share.

As of Aug. 21, US$1 was equivalent to 4.29 ringgits.