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Genting Malaysia Q1 profit climbs YOY

Genting Malaysia Bhd. said its normalized net income for the first quarter was 5 Malaysian sen per share, compared with the S&P Capital IQ consensus estimate of 6 sen per share.

In the prior-year period, the per-share result came in at a profit of 5 sen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 300.9 million ringgits, compared with 298.1 million ringgits in the prior-year period.

The normalized profit margin declined to 14.4% from 14.7% in the year-earlier period.

Total revenue increased year over year to 2.09 billion ringgits from 2.03 billion ringgits, and total operating expenses increased from the prior-year period to 1.61 billion ringgits from 1.55 billion ringgits.

Reported net income rose year over year to 362.1 million ringgits, or 6 sen per share, from 358.3 million ringgits, or 6 sen per share.

As of May 28, US$1 was equivalent to 3.65 ringgits.