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OldTown fiscal Q2 profit falls YOY

OldTown Berhad said its normalized net income for the fiscal second quarter ended Sept. 30 came to 2 Malaysian sen per share, a decrease of 9.3% 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 8.2 million ringgits, a decrease of 10.1% from 9.1 million ringgits in the prior-year period.

The normalized profit margin declined to 8.7% from 9.5% in the year-earlier period.

Total revenue fell year over year to 91.7 million ringgits from 95.3 million ringgits, and total operating expenses decreased on an annual basis to 78.0 million ringgits from 79.9 million ringgits.

Reported net income fell year over year to 11.3 million ringgits, or 3 sen per share, from 11.4 million ringgits, or 3 sen per share.

As of Nov. 26, US$1 was equivalent to 3.35 ringgits.