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Genting Malaysia Q2 profit climbs 87.0% YOY

Genting Malaysia Berhad said its second-quarter normalized net income was 6 Malaysian sen per share, compared with the S&P Capital IQ consensus estimate of 6 sen per share.

EPS climbed 87.3% year over year from 3 sen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 331.2 million ringgits, an increase of 87.0% from 177.1 million ringgits in the year-earlier period.

The normalized profit margin climbed to 14.8% from 8.9% in the year-earlier period.

Total revenue increased 12.7% year over year to 2.23 billion ringgits from 1.98 billion ringgits, and total operating expenses totaled 1.70 billion ringgits, compared with 1.70 billion ringgits in the year-earlier period.

Reported net income rose year over year to 476.3 million ringgits, or 8 sen per share, from 230.9 million ringgits, or 4 sen per share.

As of Aug. 25, US$1 was equivalent to 4.03 ringgits.