Only World Group Holdings Bhd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 1 Malaysian sen per share, a decline of 25.3% 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 2.5 million ringgits, a decline of 24.2% from 3.4 million ringgits in the year-earlier period.

The normalized profit margin fell to 10.5% from 14.8% in the year-earlier period.

Total revenue grew 6.7% year over year to 24.2 million ringgits from 22.7 million ringgits, and total operating expenses grew 16.6% year over year to 19.8 million ringgits from 17.0 million ringgits.

Reported net income declined 27.6% on an annual basis to 2.9 million ringgits, or 1 sen per share, from 4.0 million ringgits, or 2 sen per share.

As of May 25, US$1 was equivalent to 4.10 ringgits.