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MESB Bhd. fiscal Q2 profit falls YOY

MESB Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 169,380 ringgits, a decrease of 83.3% from 1.0 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 declined to 0.7% from 4.6% in the year-earlier period.

Total revenue grew on an annual basis to 22.6 million ringgits from 21.9 million ringgits, and total operating expenses climbed 10.1% year over year to 22.5 million ringgits from 20.5 million ringgits.

Reported net income decreased 83.5% from the prior-year period to 267,000 ringgits, or 0 sen per share, from 1.6 million ringgits, or 3 sen per share.

As of Nov. 30, US$1 was equivalent to 4.25 ringgits.