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Cortina Holdings fiscal Q2 profit climbs 44.4% YOY

Cortina Holdings Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was S$2.0 million, a rise of 44.4% from S$1.4 million in the prior-year period.

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

The normalized profit margin climbed to 2.2% from 1.5% in the year-earlier period.

Total revenue climbed year over year to S$93.2 million from S$92.1 million, and total operating expenses came to S$88.7 million, compared with S$88.8 million in the prior-year period.

Reported net income increased 45.5% on an annual basis to S$2.8 million, or 2 cents per share, from S$1.9 million, or 1 cents per share.

As of Nov. 13, US$1 was equivalent to S$1.42.