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Ajinomoto fiscal Q1 profit falls YOY

Ajinomoto (Malaysia) Bhd. said its normalized net income for the fiscal first quarter ended June 30 was 12 Malaysian sen per share, a decrease from 12 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 7.1 million ringgits, a decrease from 7.2 million ringgits in the prior-year period.

The normalized profit margin climbed to 8.2% from 8.2% in the year-earlier period.

Total revenue fell on an annual basis to 86.2 million ringgits from 87.8 million ringgits, and total operating expenses declined on an annual basis to 75.8 million ringgits from 76.8 million ringgits.

Reported net income decreased on an annual basis to 8.2 million ringgits, or 14 sen per share, from 8.3 million ringgits, or 14 sen per share.

As of Aug. 25, US$1 was equivalent to 3.16 ringgits.