TLV Holdings Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to S$1.8 million, a rise of 50.3% from S$1.2 million in the prior-year period.

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

The normalized profit margin increased to 5.2% from 3.7% in the year-earlier period.

Total revenue rose 6.4% year over year to S$34.2 million from S$32.2 million, and total operating expenses rose from the prior-year period to S$30.2 million from S$29.8 million.

Reported net income fell 38.6% on an annual basis to S$962,000, or 0 cents per share, from S$1.6 million, or 0 cents per share.

As of Nov. 12, US$1 was equivalent to S$1.42.