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EG Industries fiscal Q1 profit climbs YOY

EG Industries Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 4.9 million ringgits, a rise from 553,750 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 climbed to 2.5% from 0.2% in the year-earlier period.

Total revenue declined on an annual basis to 243.6 million ringgits from 247.3 million ringgits, and total operating expenses declined on an annual basis to 233.5 million ringgits from 244.3 million ringgits.

Reported net income rose on an annual basis to 7.6 million ringgits, or 10 sen per share, from 780,000 ringgits, or 1 sen per share.

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