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Poh Huat Resources fiscal Q2 profit climbs YOY

Poh Huat Resources Holdings Bhd. said its normalized net income for the fiscal second quarter ended April 30 came to 1 Malaysian sen per share, a decline of 7.3% from 2 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 3.5 million ringgits, a gain from 3.4 million ringgits in the year-earlier period.

The normalized profit margin fell to 3.3% from 3.6% in the year-earlier period.

Total revenue rose 10.7% year over year to 106.5 million ringgits from 96.2 million ringgits, and total operating expenses grew 11.2% year over year to 100.5 million ringgits from 90.4 million ringgits.

Reported net income declined 14.4% from the prior-year period to 3.9 million ringgits, or 2 sen per share, from 4.5 million ringgits, or 2 sen per share.

As of June 30, US$1 was equivalent to 3.99 ringgits.