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Yee Lee Corp. Q1 profit falls YOY

Yee Lee Corp. Bhd. said its first-quarter normalized net income was 4 Malaysian sen per share, a decline of 12.3% from 4 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 6.4 million ringgits, a decrease of 10.9% from 7.2 million ringgits in the prior-year period.

The normalized profit margin dropped to 3.5% from 4.1% in the year-earlier period.

Total revenue climbed on an annual basis to 180.4 million ringgits from 174.5 million ringgits, and total operating expenses increased on an annual basis to 170.2 million ringgits from 164.1 million ringgits.

Reported net income fell 19.0% from the prior-year period to 7.4 million ringgits, or 4 sen per share, from 9.1 million ringgits, or 5 sen per share.

As of May 11, US$1 was equivalent to 3.60 ringgits.