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Golden Land fiscal Q1 profit climbs YOY

Golden Land Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 2.4 million ringgits, a rise from 1.1 million ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 41.6% from 2.5% in the year-earlier period.

Total revenue declined on an annual basis to 42.4 million ringgits from 44.0 million ringgits, and total operating expenses fell 8.6% from the prior-year period to 37.1 million ringgits from 40.6 million ringgits.

Reported net income grew year over year to 2.6 million ringgits, or 1 sen per share, from 936,000 ringgits, or 0 sen per share.

As of Nov. 28, US$1 was equivalent to 3.38 ringgits.