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Spring Gallery fiscal Q3 profit climbs YOY

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Investment Banking Essentials May 15

Spring Gallery fiscal Q3 profit climbs YOY

Spring Gallery Bhd. said its normalized net income for the fiscal third quarter ended March 31 came to 1.7 million ringgits, an increase from 530,000 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 rose to 17.0% from 7.1% in the year-earlier period.

Total revenue climbed 30.9% year over year to 9.8 million ringgits from 7.4 million ringgits, and total operating expenses rose 20.1% year over year to 7.9 million ringgits from 6.6 million ringgits.

Reported net income increased year over year to 2.2 million ringgits, or 2 sen per share, from 478,000 ringgits, or 1 sen per share.

As of May 27, US$1 was equivalent to 3.65 ringgits.