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Harn Len Q3 profit climbs 15.0% YOY

Harn Len Corp. Bhd said its third-quarter normalized net income amounted to 2 Malaysian sen per share, an increase of 18.5% from 2 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 3.7 million ringgits, an increase of 15.0% from 3.2 million ringgits in the prior-year period.

The normalized profit margin fell to 4.0% from 4.2% in the year-earlier period.

Total revenue climbed 20.0% year over year to 91.7 million ringgits from 76.4 million ringgits, and total operating expenses climbed 16.5% year over year to 82.6 million ringgits from 70.8 million ringgits.

Reported net income declined 12.7% year over year to 3.2 million ringgits, or 2 sen per share, from 3.6 million ringgits, or 2 sen per share.

As of Nov. 24, US$1 was equivalent to 4.40 ringgits.