Best World International Ltd. said its normalized net income for the first quarter was S$307,880, an increase of 65.2% from S$186,380 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 2.3% from 1.5% in the year-earlier period.

Total revenue increased 5.5% year over year to S$13.5 million from S$12.8 million, and total operating expenses grew 6.3% from the prior-year period to S$13.3 million from S$12.5 million.

Reported net income rose from the prior-year period to S$249,000, or 0 cents per share, from S$121,000, or 0 cents per share.

As of May 12, US$1 was equivalent to S$1.34.