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Poh Kong Holdings fiscal Q1 profit falls YOY

Poh Kong Holdings Bhd. said its normalized net income for the fiscal first quarter ended Oct. 31 came to 2.9 million ringgits, a decrease of 26.9% from 3.9 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 fell to 1.5% from 2.2% in the year-earlier period.

Total revenue increased 7.7% year over year to 194.0 million ringgits from 180.1 million ringgits, and total operating expenses climbed 9.1% on an annual basis to 186.1 million ringgits from 170.5 million ringgits.

Reported net income decreased 33.5% on an annual basis to 3.1 million ringgits, or 1 sen per share, from 4.6 million ringgits, or 1 sen per share.

As of Dec. 15, US$1 was equivalent to 3.50 ringgits.