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TDM Q2 profit climbs YOY

TDM Bhd. said its second-quarter normalized net income came to 14.7 million ringgits, a rise from 6.3 million ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 14.3% from 6.7% in the year-earlier period.

Total revenue rose 9.4% year over year to 103.1 million ringgits from 94.2 million ringgits, and total operating expenses declined on an annual basis to 85.0 million ringgits from 87.1 million ringgits.

Reported net income rose 92.5% from the prior-year period to 22.6 million ringgits, or 1 sen per share, from 11.8 million ringgits, or 1 sen per share.

As of Aug. 29, US$1 was equivalent to 4.04 ringgits.