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Seni Jaya Q1 profit falls YOY

Seni Jaya Corporation Bhd. said its first-quarter normalized net income amounted to 106,880 ringgits, a decrease of 62.6% from 285,630 ringgits in the prior-year period.

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

The normalized profit margin fell to 2.2% from 5.8% in the year-earlier period.

Total revenue fell on an annual basis to 4.8 million ringgits from 4.9 million ringgits, and total operating expenses climbed year over year to 4.6 million ringgits from 4.5 million ringgits.

Reported net income fell 62.1% from the prior-year period to 116,000 ringgits, or 0 sen per share, from 306,000 ringgits, or 1 sen per share.

As of May 24, US$1 was equivalent to 4.11 ringgits.