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Only World Group profit holds mostly steady YOY in fiscal Q1

Only World Group Holdings Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to 1 Malaysian sen per share, a decrease of 30.7% 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 2.5 million ringgits, compared with 2.5 million ringgits in the prior-year period.

The normalized profit margin dropped to 11.1% from 13.1% in the year-earlier period.

Total revenue climbed 18.0% on an annual basis to 22.7 million ringgits from 19.2 million ringgits, and total operating expenses grew 22.8% year over year to 18.2 million ringgits from 14.8 million ringgits.

Reported net income totaled 3.1 million ringgits, or 1 sen per share, compared to 3.0 million ringgits, or 2 sen per share, in the year-earlier period.

As of Nov. 12, US$1 was equivalent to 4.38 ringgits.