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EG Industries fiscal Q2 profit climbs YOY

EG Industries Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 6.4 million ringgits, a rise from 244,500 ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 4.0% from 0.1% in the year-earlier period.

Total revenue decreased 16.4% year over year to 219.1 million ringgits from 262.0 million ringgits, and total operating expenses decreased 20.6% year over year to 206.1 million ringgits from 259.4 million ringgits.

Reported net income increased year over year to 10.3 million ringgits, or 14 sen per share, from 508,000 ringgits, or 1 sen per share.

As of Feb. 26, US$1 was equivalent to 3.60 ringgits.