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Paragon Union Q3 profit climbs YOY

Paragon Union Berhad said its third-quarter normalized net income amounted to 1.2 million ringgits, a rise from 23,130 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 increased to 7.9% from 0.2% in the year-earlier period.

Total revenue increased on an annual basis to 15.3 million ringgits from 14.9 million ringgits, and total operating expenses decreased 9.0% from the prior-year period to 13.2 million ringgits from 14.6 million ringgits.

Reported net income grew from the prior-year period to 1.8 million ringgits, or 3 sen per share, from 37,000 ringgits, or 0 sen per share.

As of Nov. 28, US$1 was equivalent to 4.46 ringgits.