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Eng Kah Q3 profit falls YOY

Eng Kah Corp. Bhd. said its third-quarter normalized net income amounted to 669,380 ringgits, a fall of 20.8% from 845,000 ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 4.3% from 6.2% in the year-earlier period.

Total revenue grew 12.8% on an annual basis to 15.4 million ringgits from 13.7 million ringgits, and total operating expenses rose 12.5% year over year to 14.6 million ringgits from 13.0 million ringgits.

Reported net income fell 34.4% on an annual basis to 723,290 ringgits, or 1 sen per share, from 1.1 million ringgits, or 2 sen per share.

As of Nov. 24, US$1 was equivalent to 4.40 ringgits.