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Atlan Holdings fiscal Q1 profit falls YOY

Atlan Holdings Bhd. said its normalized net income for the fiscal first quarter ended May 31 was 4 Malaysian sen per share, a decrease of 55.9% 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 10.3 million ringgits, a decline of 55.9% from 23.3 million ringgits in the prior-year period.

The normalized profit margin dropped to 5.8% from 13.4% in the year-earlier period.

Total revenue climbed year over year to 176.6 million ringgits from 174.5 million ringgits, and total operating expenses grew 22.1% from the prior-year period to 155.3 million ringgits from 127.3 million ringgits.

Reported net income decreased 67.2% year over year to 10.9 million ringgits, or 4 sen per share, from 33.1 million ringgits, or 13 sen per share.

As of July 16, US$1 was equivalent to 3.19 ringgits.