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Kawan Food Q3 profit climbs YOY

Kawan Food Bhd. said its normalized net income for the third quarter came to 3 Malaysian sen per share, a gain of 81.4% 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 9.2 million ringgits, an increase from 4.5 million ringgits in the prior-year period.

The normalized profit margin rose to 21.4% from 11.6% in the year-earlier period.

Total revenue climbed 13.0% on an annual basis to 43.2 million ringgits from 38.2 million ringgits, and total operating expenses increased on an annual basis to 33.0 million ringgits from 32.0 million ringgits.

Reported net income increased from the prior-year period to 12.3 million ringgits, or 4 sen per share, from 5.8 million ringgits, or 2 sen per share.

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