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SYF Resources fiscal Q2 profit climbs YOY

SYF Resources Bhd. said its normalized net income for the fiscal second quarter ended Jan. 31 amounted to 8.0 million ringgits, a gain from 2.0 million 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 climbed to 7.4% from 3.2% in the year-earlier period.

Total revenue rose 71.8% year over year to 107.4 million ringgits from 62.5 million ringgits, and total operating expenses grew 59.7% from the prior-year period to 92.8 million ringgits from 58.1 million ringgits.

Reported net income increased from the prior-year period to 10.4 million ringgits, or 2 sen per share, from 3.2 million ringgits, or 1 sen per share.

As of March 22, US$1 was equivalent to 3.98 ringgits.