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Nestlé (Malaysia) Q1 profit climbs YOY

Nestlé (Malaysia) Bhd. said its normalized net income for the first quarter was 65 Malaysian sen per share, a gain from 64 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 152.7 million ringgits, an increase from 149.3 million ringgits in the year-earlier period.

The normalized profit margin rose to 11.9% from 11.7% in the year-earlier period.

Total revenue totaled 1.28 billion ringgits, compared with 1.27 billion ringgits in the prior-year period, and total operating expenses came to 1.03 billion ringgits, compared with 1.03 billion ringgits in the prior-year period.

Reported net income grew from the prior-year period to 187.9 million ringgits, or 80 sen per share, from 183.5 million ringgits, or 78 sen per share.

As of April 20, US$1 was equivalent to 3.64 ringgits.