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Innoprise Plantations Q3 profit climbs YOY

Innoprise Plantations Bhd. said its normalized net income for the third quarter was 2 Malaysian sen per share, a gain of 65.3% from 1 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 11.2 million ringgits, a gain from 5.4 million ringgits in the year-earlier period.

The normalized profit margin rose to 27.0% from 17.5% in the year-earlier period.

Total revenue climbed 33.7% on an annual basis to 41.3 million ringgits from 30.9 million ringgits, and total operating expenses grew 5.4% on an annual basis to 22.6 million ringgits from 21.5 million ringgits.

Reported net income grew on an annual basis to 13.8 million ringgits, or 3 sen per share, from 6.7 million ringgits, or 2 sen per share.

As of Nov. 22, US$1 was equivalent to 4.42 ringgits.