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TA Enterprise Q4 profit climbs YOY

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TA Enterprise Q4 profit climbs YOY

TA Enterprise Bhd. said its fourth-quarter normalized net income came to 1 Malaysian sen per share, a gain from 1 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.5 million ringgits, a gain from 20.5 million ringgits in the year-earlier period.

The normalized profit margin rose to 12.4% from 7.3% in the year-earlier period.

Total revenue decreased 38.1% on an annual basis to 173.6 million ringgits from 280.3 million ringgits, and total operating expenses declined 16.2% on an annual basis to 150.2 million ringgits from 179.3 million ringgits.

Reported net income totaled a loss of 17.0 million ringgits, or a loss of 1 sen per share, compared to income of 29.2 million ringgits, or 2 sen per share, in the year-earlier period.

For the year, the company's normalized net income totaled 7 sen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 10 sen.

EPS rose 33.9% from 5 sen in the prior year.

Normalized net income was 122.1 million ringgits, a rise of 33.9% from 91.2 million ringgits in the prior year.

Full-year total revenue fell 6.6% from the prior-year period to 838.1 million ringgits from 897.3 million ringgits, and total operating expenses fell year over year to 621.4 million ringgits from 644.6 million ringgits.

The company said reported net income decreased 98.2% on an annual basis to 2.4 million ringgits, or 0 sen per share, in the full year, from 137.0 million ringgits, or 8 sen per share.

As of Feb. 29, US$1 was equivalent to 4.21 ringgits.