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Gopeng Q1 profit falls YOY

Gopeng Berhad said its normalized net income for the first quarter was 501,630 ringgits, a decline of 89.8% from 4.9 million ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 26.6% from 207.8% in the year-earlier period.

Total revenue fell 20.5% year over year to 1.9 million ringgits from 2.4 million ringgits.

Reported net income decreased 89.3% year over year to 802,610 ringgits, or 0 sen per share, from 7.5 million ringgits, or 4 sen per share.

As of May 30, US$1 was equivalent to 4.11 ringgits.