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Oriental Holdings Q3 profit climbs 5.6% YOY

Oriental Holdings Bhd. said its normalized net income for the third quarter amounted to 10 Malaysian sen per share, a gain of 5.6% from 9 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 60.3 million ringgits, a gain of 5.6% from 57.1 million ringgits in the prior-year period.

The normalized profit margin declined to 5.0% from 6.5% in the year-earlier period.

Total revenue grew 36.6% year over year to 1.20 billion ringgits from 875.4 million ringgits, and total operating expenses grew 47.4% from the prior-year period to 1.12 billion ringgits from 761.6 million ringgits.

Reported net income declined 18.3% year over year to 74.8 million ringgits, or 12 sen per share, from 91.6 million ringgits, or 15 sen per share.

As of Nov. 19, US$1 was equivalent to 4.28 ringgits.