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IJM Plantations fiscal Q2 profit climbs YOY

IJM Plantations Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 22.7 million ringgits, a rise from 6.5 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 climbed to 13.1% from 4.3% in the year-earlier period.

Total revenue increased 16.5% on an annual basis to 173.7 million ringgits from 149.2 million ringgits, and total operating expenses climbed 7.6% year over year to 129.5 million ringgits from 120.4 million ringgits.

Reported net income increased from the prior-year period to 27.1 million ringgits, or 3 sen per share, from 2.8 million ringgits, or 0 sen per share.

As of Nov. 25, US$1 was equivalent to 3.35 ringgits.