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London Biscuits fiscal Q1 profit climbs 17.8% YOY

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London Biscuits fiscal Q1 profit climbs 17.8% YOY

London Biscuits Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 2 Malaysian sen per share, a decline of 8.2% from 2 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 3.3 million ringgits, a gain of 17.8% from 2.8 million ringgits in the year-earlier period.

The normalized profit margin fell to 3.8% from 3.8% in the year-earlier period.

Total revenue increased 19.7% on an annual basis to 87.6 million ringgits from 73.2 million ringgits, and total operating expenses grew 18.5% from the prior-year period to 77.9 million ringgits from 65.7 million ringgits.

Reported net income rose 16.5% on an annual basis to 5.1 million ringgits, or 3 sen per share, from 4.4 million ringgits, or 3 sen per share.

As of Nov. 28, US$1 was equivalent to 3.38 ringgits.