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MCE Holdings fiscal Q3 profit falls YOY

MCE Holdings Bhd. said its normalized net income for the fiscal third quarter ended April 30 amounted to 1 Malaysian sen per share, a decline of 76.6% from 6 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 603,000 ringgits, a decrease of 76.6% from 2.6 million ringgits in the year-earlier period.

The normalized profit margin fell to 2.4% from 11.3% in the year-earlier period.

Total revenue grew 11.1% year over year to 25.3 million ringgits from 22.8 million ringgits, and total operating expenses rose on an annual basis to 24.4 million ringgits from 23.8 million ringgits.

Reported net income fell 81.0% on an annual basis to 852,000 ringgits, or 2 sen per share, from 4.5 million ringgits, or 10 sen per share.

As of June 29, US$1 was equivalent to 3.78 ringgits.