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SHH Resources fiscal Q3 profit falls YOY

SHH Resources Holdings Bhd. said its normalized net income for the fiscal third quarter ended March 31 was 2 Malaysian sen per share, a decrease of 10.5% from 2 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 1.0 million ringgits, a decline of 10.5% from 1.2 million ringgits in the year-earlier period.

The normalized profit margin declined to 3.7% from 4.3% in the year-earlier period.

Total revenue increased 5.3% on an annual basis to 28.1 million ringgits from 26.7 million ringgits, and total operating expenses rose 6.4% year over year to 26.4 million ringgits from 24.8 million ringgits.

Reported net income fell 59.1% year over year to 1.5 million ringgits, or 3 sen per share, from 3.8 million ringgits, or 8 sen per share.

As of May 27, US$1 was equivalent to 3.65 ringgits.