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Kluang Rubber fiscal Q3 profit climbs YOY

Kluang Rubber Co. (Malaya) Bhd. said its normalized net income for the fiscal third quarter ended March 31 was 1.0 million ringgits, a rise from 40,750 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 34.6% from 1.3% in the year-earlier period.

Total revenue fell 9.4% on an annual basis to 2.9 million ringgits from 3.2 million ringgits, and total operating expenses increased 27.7% on an annual basis to 3.5 million ringgits from 2.7 million ringgits.

Reported net income totaled 4.5 million ringgits, or 7 sen per share, compared to a loss of 721,000 ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of May 26, US$1 was equivalent to 4.06 ringgits.