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Boustead Plantations Q3 profit falls YOY

Boustead Plantations Bhd. said its normalized net income for the third quarter was 7.1 million ringgits, a decline of 51.2% from 14.5 million ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 4.3% from 8.9% in the year-earlier period.

Total revenue increased year over year to 166.6 million ringgits from 162.9 million ringgits, and total operating expenses increased 11.5% on an annual basis to 152.6 million ringgits from 136.8 million ringgits.

Reported net income increased 27.4% year over year to 23.6 million ringgits, or 1 sen per share, from 18.6 million ringgits, or 1 sen per share.

As of Nov. 19, US$1 was equivalent to 4.28 ringgits.