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OldTown fiscal Q3 profit climbs YOY

OldTown Berhad said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 2 Malaysian sen per share, a gain from 2 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 11.1 million ringgits, an increase from 10.9 million ringgits in the year-earlier period.

The normalized profit margin fell to 10.5% from 10.8% in the year-earlier period.

Total revenue grew on an annual basis to 103.0 million ringgits from 100.7 million ringgits, and total operating expenses climbed on an annual basis to 85.4 million ringgits from 82.6 million ringgits.

Reported net income grew 7.0% from the prior-year period to 14.4 million ringgits, or 3 sen per share, from 13.4 million ringgits, or 3 sen per share.

As of Feb. 26, US$1 was equivalent to 3.60 ringgits.