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Oriental Food Industries fiscal Q4 profit climbs YOY

Oriental Food Industries Holdings Bhd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 4.8 million ringgits, an increase from 2.3 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 rose to 8.0% from 4.1% in the year-earlier period.

Total revenue climbed 6.4% on an annual basis to 58.9 million ringgits from 55.4 million ringgits, and total operating expenses grew from the prior-year period to 54.2 million ringgits from 52.1 million ringgits.

Reported net income grew year over year to 6.9 million ringgits, or 3 sen per share, from 3.1 million ringgits, or 1 sen per share.

For the year, the company's normalized net income totaled 7 sen per share, a gain of 23.4% from 5 sen per share in the prior year.

Normalized net income was 15.9 million ringgits, an increase of 23.4% from 12.9 million ringgits in the prior year.

Full-year total revenue grew on an annual basis to 237.0 million ringgits from 226.9 million ringgits, and total operating expenses grew on an annual basis to 214.3 million ringgits from 206.4 million ringgits.

The company said reported net income increased 33.0% year over year to 21.5 million ringgits, or 9 sen per share, in the full year, from 16.2 million ringgits, or 7 sen per share.

As of July 29, US$1 was equivalent to 3.81 ringgits.