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CAB Cakaran fiscal Q2 profit falls YOY

CAB Cakaran Corp. Bhd. said its normalized net income for the fiscal second quarter ended March 31 was 2.2 million ringgits, a fall of 36.1% from 3.4 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 dropped to 1.0% from 2.1% in the year-earlier period.

Total revenue increased 27.2% year over year to 208.5 million ringgits from 163.9 million ringgits, and total operating expenses rose 28.7% year over year to 201.9 million ringgits from 156.8 million ringgits.

Reported net income declined 23.3% on an annual basis to 2.5 million ringgits, or 1 sen per share, from 3.3 million ringgits, or 1 sen per share.

As of May 26, US$1 was equivalent to 3.64 ringgits.