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Genting Q3 profit climbs YOY

Genting Bhd. said its normalized net income for the third quarter amounted to 9 Malaysian sen per share, a decrease from 10 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 352.9 million ringgits, an increase from 339.5 million ringgits in the prior-year period.

The normalized profit margin rose to 7.6% from 7.6% in the year-earlier period.

Total revenue grew on an annual basis to 4.65 billion ringgits from 4.49 billion ringgits, and total operating expenses grew 13.8% from the prior-year period to 3.37 billion ringgits from 2.96 billion ringgits.

Reported net income rose 33.7% from the prior-year period to 469.5 million ringgits, or 10 sen per share, from 351.3 million ringgits, or 10 sen per share.

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