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Eng Kah Q2 profit falls YOY

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Eng Kah Q2 profit falls YOY

Eng Kah Corp. Bhd. said its normalized net income for the second quarter was 529,380 ringgits, a fall of 37.4% from 845,000 ringgits in the year-earlier period.

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

The normalized profit margin fell to 3.7% from 5.7% in the year-earlier period.

Total revenue fell 5.0% year over year to 14.2 million ringgits from 14.9 million ringgits, and total operating expenses came to 13.7 million ringgits, compared with 13.5 million ringgits in the prior-year period.

Reported net income fell 30.5% from the prior-year period to 687,230 ringgits, or 1 sen per share, from 988,770 ringgits, or 1 sen per share.

As of Aug. 25, US$1 was equivalent to 4.03 ringgits.