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Sarawak Plantation Q2 profit falls YOY

Sarawak Plantation Bhd. said its normalized net income for the second quarter was 1 Malaysian sen per share, a decrease of 15.8% 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 3.0 million ringgits, a decline of 15.8% from 3.6 million ringgits in the year-earlier period.

The normalized profit margin declined to 3.4% from 4.1% in the year-earlier period.

Total revenue increased on an annual basis to 90.3 million ringgits from 87.5 million ringgits, and total operating expenses rose from the prior-year period to 85.7 million ringgits from 82.4 million ringgits.

Reported net income fell 8.2% on an annual basis to 4.1 million ringgits, or 1 sen per share, from 4.5 million ringgits, or 2 sen per share.

As of Aug. 18, US$1 was equivalent to 3.99 ringgits.