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Rexit fiscal Q2 profit climbs YOY

Rexit Berhad said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, was 1.4 million ringgits, an increase from 548,130 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 increased to 31.1% from 13.2% in the year-earlier period.

Total revenue increased 10.0% on an annual basis to 4.6 million ringgits from 4.2 million ringgits, and total operating expenses declined 30.7% year over year to 2.3 million ringgits from 3.3 million ringgits.

Reported net income grew from the prior-year period to 1.7 million ringgits, or 1 sen per share, from 817,000 ringgits, or 0 sen per share.

As of Feb. 23, US$1 was equivalent to 4.22 ringgits.