Fraser & Neave Holdings Bhd. said its normalized net income for the fiscal fourth quarter ended Sept. 30 was 9 Malaysian sen per share, a decline of 30.5% from 13 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 34.1 million ringgits, a decrease of 30.3% from 49.0 million ringgits in the year-earlier period.
The normalized profit margin declined to 3.5% from 4.6% in the year-earlier period.
Total revenue fell year over year to 1.02 billion ringgits from 1.06 billion ringgits, and total operating expenses totaled 986.5 million ringgits, compared with 977.9 million ringgits in the year-earlier period.
Reported net income fell 12.3% year over year to 49.5 million ringgits, or 13 sen per share, from 56.5 million ringgits, or 15 sen per share.
For the year, the company's normalized net income totaled 76 sen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.16 ringgits.
EPS rose 29.0% from 59 sen in the prior year.
Normalized net income was 278.6 million ringgits, an increase of 29.4% from 215.3 million ringgits in the prior year.
Full-year total revenue grew year over year to 4.17 billion ringgits from 4.11 billion ringgits, and total operating expenses totaled 3.75 billion ringgits, compared with 3.77 billion ringgits in the year-earlier period.
The company said reported net income increased 37.6% year over year to 385.2 million ringgits, or 1.05 ringgits per share, in the full year, from 279.9 million ringgits, or 76 sen per share.
As of Dec. 27, US$1 was equivalent to 4.48 ringgits.