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London Biscuits fiscal Q2 profit climbs 36.2% YOY

London Biscuits Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 2 Malaysian sen per share, an increase of 32.3% from 1 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 3.5 million ringgits, an increase of 36.2% from 2.6 million ringgits in the year-earlier period.

The normalized profit margin rose to 4.0% from 2.8% in the year-earlier period.

Total revenue declined on an annual basis to 86.7 million ringgits from 90.0 million ringgits, and total operating expenses decreased 7.7% from the prior-year period to 74.6 million ringgits from 80.8 million ringgits.

Reported net income increased 51.5% year over year to 5.5 million ringgits, or 3 sen per share, from 3.6 million ringgits, or 2 sen per share.

As of Feb. 29, US$1 was equivalent to 4.21 ringgits.