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Fiamma Holdings fiscal Q2 profit falls YOY

Fiamma Holdings Bhd. said its normalized net income for the fiscal second quarter ended March 31 amounted to 2 Malaysian sen per share, a decrease of 20.3% from 2 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 8.2 million ringgits, a decline of 17.9% from 10.0 million ringgits in the prior-year period.

The normalized profit margin declined to 8.9% from 12.2% in the year-earlier period.

Total revenue increased 12.7% year over year to 92.1 million ringgits from 81.7 million ringgits, and total operating expenses grew 19.1% on an annual basis to 76.1 million ringgits from 63.9 million ringgits.

Reported net income fell 11.2% on an annual basis to 10.1 million ringgits, or 2 sen per share, from 11.4 million ringgits, or 3 sen per share.

As of May 20, US$1 was equivalent to 3.61 ringgits.