Premier Nalfin Bhd. said its normalized net income for the third quarter was 362,500 ringgits, a rise of 59.3% from 227,500 ringgits in the year-earlier period.

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

The normalized profit margin rose to 35.8% from 22.6% in the year-earlier period.

Total revenue totaled 1.0 million ringgits, compared with 1.0 million ringgits in the prior-year period, and total operating expenses fell 32.7% on an annual basis to 432,000 ringgits from 642,000 ringgits.

Reported net income rose 77.0% from the prior-year period to 499,000 ringgits, or 0 sen per share, from 282,000 ringgits, or 0 sen per share.

As of Nov. 24, US$1 was equivalent to 4.22 ringgits.