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Soo Kee Group Q3 profit falls YOY

SK Jewellery Group Ltd said its third-quarter normalized net income was S$276,500, a decline of 67.4% from S$848,130 in the year-earlier period.

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

The normalized profit margin declined to 0.6% from 2.3% in the year-earlier period.

Total revenue rose 32.7% year over year to S$49.8 million from S$37.5 million, and total operating expenses grew 41.2% on an annual basis to S$48.7 million from S$34.5 million.

Reported net income fell 70.1% from the prior-year period to S$225,000, or 0 cents per share, from S$752,040, or 0 cents per share.

As of Nov. 9, US$1 was equivalent to S$1.40.