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Teo Guan Lee fiscal Q1 profit falls YOY

Teo Guan Lee Corp. Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 12 Malaysian sen per share, a decline of 17.4% from 15 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 5.1 million ringgits, a decline of 17.4% from 6.1 million ringgits in the prior-year period.

The normalized profit margin declined to 15.2% from 15.6% in the year-earlier period.

Total revenue decreased 15.4% year over year to 33.2 million ringgits from 39.2 million ringgits, and total operating expenses fell 15.0% year over year to 24.9 million ringgits from 29.3 million ringgits.

Reported net income fell 17.3% on an annual basis to 6.0 million ringgits, or 15 sen per share, from 7.3 million ringgits, or 18 sen per share.

As of Nov. 26, US$1 was equivalent to 3.35 ringgits.