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Eng Kah Q1 profit falls YOY

Eng Kah Corp. Bhd. said its normalized net income for the first quarter came to 1 Malaysian sen per share, a decrease of 19.4% from 1 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 755,630 ringgits, a decrease of 16.6% from 905,630 ringgits in the prior-year period.

The normalized profit margin dropped to 4.8% from 6.2% in the year-earlier period.

Total revenue increased 7.7% year over year to 15.9 million ringgits from 14.7 million ringgits, and total operating expenses increased 14.0% year over year to 15.1 million ringgits from 13.3 million ringgits.

Reported net income fell 6.4% from the prior-year period to 966,490 ringgits, or 1 sen per share, from 1.0 million ringgits, or 1 sen per share.

As of May 26, US$1 was equivalent to 4.06 ringgits.