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CAM Resources Q2 profit climbs 73.8% YOY

CAM Resources Berhad said its normalized net income for the second quarter amounted to 1.2 million ringgits, an increase of 73.8% from 678,750 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 increased to 1.8% from 1.3% in the year-earlier period.

Total revenue rose 24.5% on an annual basis to 64.7 million ringgits from 52.0 million ringgits, and total operating expenses climbed 22.2% on an annual basis to 62.7 million ringgits from 51.3 million ringgits.

Reported net income increased 54.5% on an annual basis to 1.1 million ringgits, or 1 sen per share, from 738,000 ringgits, or 0 sen per share.

As of Aug. 21, US$1 was equivalent to 4.29 ringgits.