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IJM Plantations fiscal Q3 profit climbs 15.4% YOY

IJM Plantations Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 3 Malaysian sen per share, an increase of 10.5% from 3 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.0 million ringgits, an increase of 15.4% from 21.6 million ringgits in the year-earlier period.

The normalized profit margin rose to 13.6% from 12.3% in the year-earlier period.

Total revenue rose year over year to 183.4 million ringgits from 175.3 million ringgits, and total operating expenses rose 7.5% year over year to 133.5 million ringgits from 124.3 million ringgits.

Reported net income fell 11.2% from the prior-year period to 27.1 million ringgits, or 3 sen per share, from 30.5 million ringgits, or 4 sen per share.

As of Feb. 27, US$1 was equivalent to 3.61 ringgits.