Suiwah Corp. Bhd. said its normalized net income for the fiscal first quarter ended Aug. 31 was 4 Malaysian sen per share, a decrease of 31.7% from 5 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 2.1 million ringgits, a decline of 31.7% from 3.0 million ringgits in the prior-year period.
The normalized profit margin dropped to 2.1% from 3.3% in the year-earlier period.
Total revenue grew 6.5% on an annual basis to 98.1 million ringgits from 92.1 million ringgits, and total operating expenses climbed 8.4% year over year to 94.4 million ringgits from 87.1 million ringgits.
Reported net income decreased 32.3% year over year to 2.3 million ringgits, or 4 sen per share, from 3.4 million ringgits, or 6 sen per share.
As of Oct. 17, US$1 was equivalent to 3.27 ringgits.
