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Eng Kah Q1 profit falls YOY

Eng Kah Corp. Bhd. said its normalized net income for the first quarter amounted to 1 Malaysian sen per share, a decrease of 24.4% 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 905,630 ringgits, a decline of 24.6% from 1.2 million ringgits in the year-earlier period.

The normalized profit margin fell to 6.2% from 8.0% in the year-earlier period.

Total revenue decreased year over year to 14.7 million ringgits from 15.1 million ringgits, and total operating expenses came to 13.3 million ringgits, compared with 13.2 million ringgits in the prior-year period.

Reported net income fell 25.8% on an annual basis to 1.0 million ringgits, or 1 sen per share, from 1.4 million ringgits, or 2 sen per share.

As of May 28, US$1 was equivalent to 3.65 ringgits.