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Cocoaland Holdings Q1 profit falls YOY

Cocoaland Holdings Bhd. said its first-quarter normalized net income came to 3 Malaysian sen per share, a decline from 3 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 6.5 million ringgits, a decrease from 6.6 million ringgits in the year-earlier period.

The normalized profit margin increased to 10.3% from 9.8% in the year-earlier period.

Total revenue fell 7.7% year over year to 62.5 million ringgits from 67.7 million ringgits, and total operating expenses declined 6.7% year over year to 54.2 million ringgits from 58.1 million ringgits.

Reported net income fell year over year to 7.9 million ringgits, or 3 sen per share, from 8.0 million ringgits, or 4 sen per share.

As of May 30, US$1 was equivalent to 4.11 ringgits.