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Kuala Lumpur Kepong profit misses consensus by 29.3% in fiscal Q2


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Kuala Lumpur Kepong profit misses consensus by 29.3% in fiscal Q2

Kuala Lumpur Kepong Bhd. said its normalized net income for the fiscal second quarter ended March 31 amounted to 17 Malaysian sen per share, compared with the S&P Capital IQ consensus estimate of 24 sen per share.

EPS fell 25.6% year over year from 23 sen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 180.7 million ringgits, a decrease of 25.6% from 242.7 million ringgits in the year-earlier period.

The normalized profit margin fell to 5.9% from 8.3% in the year-earlier period.

Total revenue rose on an annual basis to 3.07 billion ringgits from 2.93 billion ringgits, and total operating expenses climbed 10.0% on an annual basis to 2.74 billion ringgits from 2.49 billion ringgits.

Reported net income fell 29.3% on an annual basis to 222.5 million ringgits, or 21 sen per share, from 314.6 million ringgits, or 30 sen per share.

As of May 20, US$1 was equivalent to 3.61 ringgits.