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GP Industries fiscal Q3 profit climbs 7.8% YOY

GP Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to 2 Singapore cents per share, a gain of 9.5% from 2 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was S$8.2 million, a gain of 7.8% from S$7.6 million in the prior-year period.

The normalized profit margin fell to 3.0% from 3.0% in the year-earlier period.

Total revenue grew 6.3% on an annual basis to S$271.8 million from S$255.7 million, and total operating expenses increased 6.3% on an annual basis to S$259.6 million from S$244.4 million.

Reported net income declined 9.7% year over year to S$8.1 million, or 2 cents per share, from S$8.9 million, or 2 cents per share.

As of Feb. 3, US$1 was equivalent to S$1.43.