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Yoong Onn fiscal Q3 profit climbs 14.5% YOY

Yoong Onn Corp. Bhd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 4 Malaysian sen per share, an increase of 14.6% from 3 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 5.6 million ringgits, an increase of 14.5% from 4.9 million ringgits in the prior-year period.

The normalized profit margin climbed to 10.6% from 10.4% in the year-earlier period.

Total revenue climbed 12.1% year over year to 52.9 million ringgits from 47.2 million ringgits, and total operating expenses rose 12.1% from the prior-year period to 43.7 million ringgits from 39.0 million ringgits.

Reported net income rose 15.1% on an annual basis to 6.8 million ringgits, or 4 sen per share, from 5.9 million ringgits, or 4 sen per share.

As of May 28, US$1 was equivalent to 3.65 ringgits.