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MESB Bhd. fiscal Q2 profit falls YOY

MESB Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 2 Malaysian sen per share, a decrease of 55.8% from 4 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 1.0 million ringgits, a decrease of 55.9% from 2.3 million ringgits in the year-earlier period.

The normalized profit margin declined to 4.6% from 9.7% in the year-earlier period.

Total revenue decreased 7.2% year over year to 21.9 million ringgits from 23.6 million ringgits, and total operating expenses increased year over year to 20.5 million ringgits from 19.7 million ringgits.

Reported net income decreased 51.8% year over year to 1.6 million ringgits, or 3 sen per share, from 3.3 million ringgits, or 5 sen per share.

As of Nov. 26, US$1 was equivalent to 3.35 ringgits.