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Lay Hong fiscal Q1 profit climbs YOY

Lay Hong Bhd. said its normalized net income for the fiscal first quarter ended June 30 came to 1.4 million ringgits, a rise from 89,380 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 0.9% from 0.1% in the year-earlier period.

Total revenue rose 12.2% year over year to 156.2 million ringgits from 139.1 million ringgits, and total operating expenses rose 10.6% year over year to 152.2 million ringgits from 137.6 million ringgits.

Reported net income grew year over year to 1.6 million ringgits, or 0 sen per share, from 152,040 ringgits, or 0 sen per share.

As of Aug. 25, US$1 was equivalent to 3.16 ringgits.