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MBM Resources Q3 profit falls YOY

MBM Resources Bhd. said its normalized net income for the third quarter came to 1 Malaysian sen per share, a decrease of 66.4% from 4 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 5.1 million ringgits, a decrease of 66.5% from 15.3 million ringgits in the prior-year period.

The normalized profit margin fell to 1.2% from 3.6% in the year-earlier period.

Total revenue fell year over year to 411.2 million ringgits from 423.1 million ringgits, and total operating expenses declined year over year to 417.5 million ringgits from 432.9 million ringgits.

Reported net income fell 66.8% year over year to 8.6 million ringgits, or 2 sen per share, from 26.0 million ringgits, or 7 sen per share.

As of Nov. 18, US$1 was equivalent to 4.36 ringgits.