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Lii Hen Industries Q3 profit climbs YOY

Lii Hen Industries Bhd. said its normalized net income for the third quarter amounted to 7 Malaysian sen per share, an increase from 2 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 11.8 million ringgits, a gain from 4.1 million ringgits in the year-earlier period.

The normalized profit margin increased to 8.2% from 4.0% in the year-earlier period.

Total revenue grew 41.8% on an annual basis to 144.2 million ringgits from 101.7 million ringgits, and total operating expenses climbed 31.4% on an annual basis to 127.0 million ringgits from 96.6 million ringgits.

Reported net income increased year over year to 15.5 million ringgits, or 9 sen per share, from 5.8 million ringgits, or 3 sen per share.

As of Nov. 20, US$1 was equivalent to 4.27 ringgits.