The drop in profit was due to a decline in contribution from its property development, general construction and oil palm cultivation segments, OIB said.
PETALING JAYA: Oriental Interest Bhd
’s (OIB) net profit for the first quarter ended Nov 30, 2022 fell by 4.5% year-on-year (y-o-y) to RM11.18mil or earnings per share of 2.41 sen.
The fall in profit is due to a decline in contribution from its property development, general construction and oil palm cultivation segments, OIB said in a filing with Bursa Malaysia yesterday.
Lower government grants received, higher selling and distribution expenses as well as administrative costs dragged down the earnings of the property development segment.
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