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UMW Holdings Q3 profit falls YOY

UMW Holdings Berhad said its normalized net income for the third quarter came to 3 Malaysian sen per share, a decline of 77.4% 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 30.8 million ringgits, a decline of 77.4% from 136.2 million ringgits in the prior-year period.

The normalized profit margin fell to 0.9% from 3.7% in the year-earlier period.

Total revenue fell on an annual basis to 3.53 billion ringgits from 3.70 billion ringgits, and total operating expenses increased year over year to 3.47 billion ringgits from 3.32 billion ringgits.

Reported net income fell 93.1% from the prior-year period to 13.5 million ringgits, or 1 sen per share, from 197.0 million ringgits, or 17 sen per share.

As of Nov. 26, US$1 was equivalent to 4.23 ringgits.