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Oriental Holdings Q1 profit falls YOY

Oriental Holdings Bhd. said its first-quarter normalized net income was 8 Malaysian sen per share, a decrease of 6.7% from 8 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 47.0 million ringgits, a decline of 6.7% from 50.4 million ringgits in the year-earlier period.

The normalized profit margin dropped to 5.2% from 6.9% in the year-earlier period.

Total revenue grew 22.3% on an annual basis to 896.0 million ringgits from 732.9 million ringgits, and total operating expenses rose 32.5% on an annual basis to 840.7 million ringgits from 634.5 million ringgits.

Reported net income declined 19.8% on an annual basis to 55.9 million ringgits, or 9 sen per share, from 69.7 million ringgits, or 11 sen per share.

As of May 26, US$1 was equivalent to 3.64 ringgits.