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Karex fiscal Q2 profit climbs 28.4% YOY

Karex Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 1 Malaysian sen per share, a gain of 20.8% from 1 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 12.0 million ringgits, an increase of 28.4% from 9.3 million ringgits in the year-earlier period.

The normalized profit margin rose to 15.6% from 11.4% in the year-earlier period.

Total revenue declined 6.3% year over year to 77.0 million ringgits from 82.2 million ringgits, and total operating expenses decreased 14.0% from the prior-year period to 57.6 million ringgits from 66.9 million ringgits.

Reported net income grew 28.8% year over year to 14.6 million ringgits, or 2 sen per share, from 11.3 million ringgits, or 1 sen per share.

As of Feb. 26, US$1 was equivalent to 3.60 ringgits.