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Marco Holdings Q3 profit falls YOY

Marco Holdings Berhad said its third-quarter normalized net income amounted to 4.4 million ringgits, a decrease of 8.6% from 4.8 million ringgits in the prior-year period.

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

The normalized profit margin declined to 10.2% from 12.1% in the year-earlier period.

Total revenue grew 8.7% year over year to 43.1 million ringgits from 39.7 million ringgits, and total operating expenses climbed 13.7% year over year to 36.6 million ringgits from 32.2 million ringgits.

Reported net income fell 12.4% on an annual basis to 5.3 million ringgits, or 1 sen per share, from 6.0 million ringgits, or 1 sen per share.

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