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Magnum Bhd. Q2 profit falls YOY

Magnum Bhd. said its second-quarter normalized net income was 4 Malaysian sen per share, a decrease of 8.1% from 4 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 53.2 million ringgits, a decline of 8.3% from 58.0 million ringgits in the year-earlier period.

The normalized profit margin fell to 8.2% from 8.3% in the year-earlier period.

Total revenue fell 5.6% on an annual basis to 657.3 million ringgits from 696.6 million ringgits, and total operating expenses fell 5.3% year over year to 558.0 million ringgits from 589.4 million ringgits.

Reported net income fell 12.0% year over year to 59.8 million ringgits, or 4 sen per share, from 68.0 million ringgits, or 5 sen per share.

As of Aug. 18, US$1 was equivalent to 4.07 ringgits.