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OldTown fiscal Q4 profit climbs YOY

OldTown Berhad said its normalized net income for the fiscal fourth quarter ended March 31 came to 2 Malaysian sen per share, a gain from 2 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 10.7 million ringgits, a gain from 10.5 million ringgits in the year-earlier period.

The normalized profit margin climbed to 11.6% from 10.2% in the year-earlier period.

Total revenue rose year over year to 105.1 million ringgits from 103.0 million ringgits, and total operating expenses rose on an annual basis to 87.6 million ringgits from 86.2 million ringgits.

Reported net income decreased 14.8% year over year to 10.2 million ringgits, or 2 sen per share, from 11.9 million ringgits, or 3 sen per share.

For the year, the company's normalized net income totaled 9 sen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 11 sen.

EPS declined from 9 sen in the prior year.

Normalized net income was 38.9 million ringgits, a decrease from 40.0 million ringgits in the prior year.

Full-year total revenue increased on an annual basis to 397.7 million ringgits from 390.2 million ringgits, and total operating expenses increased on an annual basis to 333.6 million ringgits from 324.3 million ringgits.

The company said reported net income declined on an annual basis to 47.5 million ringgits, or 11 sen per share, in the full year, from 48.9 million ringgits, or 11 sen per share.

As of July 14, US$1 was equivalent to 3.81 ringgits.