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PPB Group Q3 profit falls YOY

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PPB Group Q3 profit falls YOY

PPB Group Bhd. said its normalized net income for the third quarter came to 17 Malaysian sen per share, a decrease of 8.5% from 19 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 202.3 million ringgits, a decline of 8.5% from 221.1 million ringgits in the year-earlier period.

The normalized profit margin fell to 20.3% from 23.8% in the year-earlier period.

Total revenue grew 7.2% on an annual basis to 994.7 million ringgits from 928.0 million ringgits, and total operating expenses rose 8.1% from the prior-year period to 937.3 million ringgits from 867.0 million ringgits.

Reported net income declined 9.2% year over year to 294.7 million ringgits, or 25 sen per share, from 324.7 million ringgits, or 27 sen per share.

As of Nov. 26, US$1 was equivalent to 4.23 ringgits.