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Cycle & Carriage Bintang Q2 profit climbs YOY

Cycle & Carriage Bintang Bhd. said its normalized net income for the second quarter came to 16 Malaysian sen per share, an increase from 2 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 16.5 million ringgits, a gain from 1.9 million ringgits in the year-earlier period.

The normalized profit margin climbed to 3.5% from 0.8% in the year-earlier period.

Total revenue climbed year over year to 472.4 million ringgits from 231.2 million ringgits, and total operating expenses increased from the prior-year period to 457.2 million ringgits from 228.0 million ringgits.

Reported net income grew year over year to 21.8 million ringgits, or 22 sen per share, from 2.0 million ringgits, or 2 sen per share.

As of July 23, US$1 was equivalent to 3.82 ringgits.