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Sasbadi fiscal Q2 profit falls YOY

Sasbadi Holdings Berhad said its normalized net income for the fiscal second quarter ended Feb. 29 came to 1 Malaysian sen per share, a decrease of 25.0% 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 5.6 million ringgits, a decline of 21.6% from 7.2 million ringgits in the prior-year period.

The normalized profit margin declined to 16.6% from 22.3% in the year-earlier period.

Total revenue rose 5.4% on an annual basis to 33.9 million ringgits from 32.1 million ringgits, and total operating expenses grew 19.2% from the prior-year period to 24.6 million ringgits from 20.6 million ringgits.

Reported net income fell 20.4% year over year to 6.6 million ringgits, or 2 sen per share, from 8.3 million ringgits, or 2 sen per share.

As of April 26, US$1 was equivalent to 3.91 ringgits.