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Dutch Lady Milk Industries Q3 profit climbs 70.4% YOY

Dutch Lady Milk Industries Bhd. said its normalized net income for the third quarter amounted to 64 Malaysian sen per share, a gain of 70.4% from 38 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 41.1 million ringgits, an increase of 70.4% from 24.1 million ringgits in the year-earlier period.

The normalized profit margin rose to 16.1% from 10.0% in the year-earlier period.

Total revenue rose 6.3% year over year to 255.6 million ringgits from 240.5 million ringgits, and total operating expenses declined 5.9% from the prior-year period to 189.9 million ringgits from 201.9 million ringgits.

Reported net income rose 75.0% year over year to 50.0 million ringgits, or 78 sen per share, from 28.5 million ringgits, or 45 sen per share.

As of Nov. 17, US$1 was equivalent to 4.39 ringgits.