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United Malacca fiscal Q4 profit falls YOY

United Malacca Bhd. said its normalized net income for the fiscal fourth quarter ended April 30 was 3 Malaysian sen per share, a decrease of 9.6% 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 5.6 million ringgits, a decline of 9.1% from 6.2 million ringgits in the prior-year period.

The normalized profit margin climbed to 11.7% from 9.8% in the year-earlier period.

Total revenue fell 24.2% on an annual basis to 48.1 million ringgits from 63.5 million ringgits, and total operating expenses decreased 22.7% from the prior-year period to 36.4 million ringgits from 47.1 million ringgits.

Reported net income decreased 39.4% year over year to 9.9 million ringgits, or 5 sen per share, from 16.4 million ringgits, or 8 sen per share.

For the year, the company's normalized net income totaled 17 sen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 25 sen.

EPS declined 26.3% from 22 sen in the prior year.

Normalized net income was 34.2 million ringgits, a decline of 25.7% from 46.1 million ringgits in the prior year.

Full-year total revenue declined 12.8% year over year to 213.2 million ringgits from 244.3 million ringgits, and total operating expenses declined 7.6% on an annual basis to 163.5 million ringgits from 176.9 million ringgits.

The company said reported net income fell 32.8% year over year to 47.2 million ringgits, or 23 sen per share, in the full year, from 70.2 million ringgits, or 34 sen per share.

As of July 27, US$1 was equivalent to 3.82 ringgits.