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TDM Q3 profit falls YOY

TDM Bhd. said its third-quarter normalized net income came to 7.5 million ringgits, a decline of 17.9% from 9.1 million ringgits in the year-earlier period.

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

The normalized profit margin declined to 7.1% from 9.3% in the year-earlier period.

Total revenue came to 98.6 million ringgits, compared with 98.3 million ringgits in the year-earlier period, and total operating expenses grew year over year to 90.3 million ringgits from 89.1 million ringgits.

Reported net income rose 58.5% from the prior-year period to 12.0 million ringgits, or 1 sen per share, from 7.6 million ringgits, or 0 sen per share.

As of Nov. 23, US$1 was equivalent to 4.28 ringgits.