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United Malacca fiscal Q3 profit falls YOY

United Malacca Bhd. said its normalized net income for the fiscal third quarter ended Jan. 31 was 4 Malaysian sen per share, a decline of 48.0% from 8 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 8.2 million ringgits, a decline of 47.6% from 15.6 million ringgits in the prior-year period.

The normalized profit margin dropped to 17.1% from 21.5% in the year-earlier period.

Total revenue declined 34.0% year over year to 47.9 million ringgits from 72.6 million ringgits, and total operating expenses declined 25.6% from the prior-year period to 37.6 million ringgits from 50.5 million ringgits.

Reported net income declined 48.3% on an annual basis to 10.8 million ringgits, or 5 sen per share, from 20.9 million ringgits, or 10 sen per share.

As of March 25, US$1 was equivalent to 3.67 ringgits.