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Marco Holdings Q2 profit falls YOY

Marco Holdings Berhad said its normalized net income for the second quarter amounted to 3.4 million ringgits, a decline of 19.5% from 4.2 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 fell to 7.4% from 11.6% in the year-earlier period.

Total revenue increased 26.6% year over year to 45.7 million ringgits from 36.1 million ringgits, and total operating expenses increased 36.5% on an annual basis to 40.8 million ringgits from 29.9 million ringgits.

Reported net income decreased 23.3% year over year to 3.9 million ringgits, or 0 sen per share, from 5.1 million ringgits, or 0 sen per share.

As of Aug. 16, US$1 was equivalent to 3.99 ringgits.