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United Malacca fiscal Q2 profit falls YOY

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United Malacca fiscal Q2 profit falls YOY

United Malacca Bhd. said its normalized net income for the fiscal second quarter ended Oct. 31 came to 5 Malaysian sen per share, a decrease of 27.9% from 7 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 10.7 million ringgits, a decrease of 27.3% from 14.8 million ringgits in the year-earlier period.

The normalized profit margin dropped to 18.2% from 22.7% in the year-earlier period.

Total revenue fell 9.4% on an annual basis to 59.0 million ringgits from 65.1 million ringgits, and total operating expenses rose on an annual basis to 44.4 million ringgits from 43.3 million ringgits.

Reported net income decreased 27.8% year over year to 13.7 million ringgits, or 7 sen per share, from 19.0 million ringgits, or 9 sen per share.

As of Dec. 24, US$1 was equivalent to 3.50 ringgits.