Oriental Food Industries Holdings Bhd. said its normalized net income for the fiscal first quarter ended June 30 was 1 Malaysian sen per share, a decrease of 17.4% from 1 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 2.6 million ringgits, a decrease of 17.4% from 3.2 million ringgits in the year-earlier period.
The normalized profit margin dropped to 4.3% from 5.8% in the year-earlier period.
Total revenue climbed 12.2% on an annual basis to 60.6 million ringgits from 54.0 million ringgits, and total operating expenses climbed 15.3% on an annual basis to 56.3 million ringgits from 48.8 million ringgits.
Reported net income declined 20.2% from the prior-year period to 3.2 million ringgits, or 1 sen per share, from 4.1 million ringgits, or 2 sen per share.
As of Aug. 28, US$1 was equivalent to 3.15 ringgits.
