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Signature International fiscal Q2 profit falls YOY

Signature International Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 2 Malaysian sen per share, a decrease of 54.4% 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 4.6 million ringgits, a decline of 54.3% from 10.1 million ringgits in the year-earlier period.

The normalized profit margin dropped to 8.4% from 14.2% in the year-earlier period.

Total revenue declined 22.7% on an annual basis to 55.0 million ringgits from 71.1 million ringgits, and total operating expenses decreased 12.8% year over year to 46.7 million ringgits from 53.5 million ringgits.

Reported net income decreased 53.6% on an annual basis to 5.6 million ringgits, or 2 sen per share, from 12.2 million ringgits, or 5 sen per share.

As of Feb. 22, US$1 was equivalent to 4.19 ringgits.