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EG Industries fiscal Q3 profit falls YOY

EG Industries Bhd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 1 Malaysian sen per share, a decrease of 24.3% from 2 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 933,130 ringgits, a decline of 24.4% from 1.2 million ringgits in the prior-year period.

The normalized profit margin increased to 0.7% from 0.5% in the year-earlier period.

Total revenue declined 28.2% on an annual basis to 179.9 million ringgits from 250.6 million ringgits, and total operating expenses decreased 28.3% on an annual basis to 176.2 million ringgits from 245.7 million ringgits.

Reported net income declined 24.2% on an annual basis to 1.3 million ringgits, or 2 sen per share, from 1.8 million ringgits, or 2 sen per share.

As of May 29, US$1 was equivalent to 3.66 ringgits.