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Cycle & Carriage Bintang Q1 profit climbs YOY

Cycle & Carriage Bintang Bhd. said its normalized net income for the first quarter came to 6 Malaysian sen per share, a gain from 2 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.0 million ringgits, a gain from 1.6 million ringgits in the year-earlier period.

The normalized profit margin rose to 2.3% from 0.9% in the year-earlier period.

Total revenue climbed 41.2% year over year to 263.1 million ringgits from 186.4 million ringgits, and total operating expenses climbed 38.3% from the prior-year period to 253.8 million ringgits from 183.5 million ringgits.

Reported net income increased year over year to 6.6 million ringgits, or 7 sen per share, from 1.7 million ringgits, or 2 sen per share.

As of April 23, US$1 was equivalent to 3.63 ringgits.