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Sapura Industrial fiscal Q1 profit falls YOY

Sapura Industrial Bhd. said its normalized net income for the fiscal first quarter ended April 30 was 2 Malaysian sen per share, a decrease of 39.5% from 3 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.1 million ringgits, a decline of 39.6% from 1.9 million ringgits in the year-earlier period.

The normalized profit margin declined to 1.9% from 3.1% in the year-earlier period.

Total revenue fell on an annual basis to 57.9 million ringgits from 60.3 million ringgits, and total operating expenses fell on an annual basis to 56.4 million ringgits from 57.6 million ringgits.

Reported net income declined 40.5% on an annual basis to 1.2 million ringgits, or 2 sen per share, from 2.1 million ringgits, or 3 sen per share.

As of June 18, US$1 was equivalent to 3.23 ringgits.