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Oceancash Pacific Q3 profit climbs 22.6% YOY

Oceancash Pacific Bhd. said its normalized net income for the third quarter came to 2.1 million ringgits, a gain of 22.6% from 1.7 million ringgits in the year-earlier period.

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

The normalized profit margin climbed to 10.3% from 8.9% in the year-earlier period.

Total revenue grew 6.0% year over year to 20.6 million ringgits from 19.5 million ringgits, and total operating expenses decreased on an annual basis to 17.1 million ringgits from 17.5 million ringgits.

Reported net income grew 28.6% from the prior-year period to 3.1 million ringgits, or 1 sen per share, from 2.4 million ringgits, or 1 sen per share.

As of Nov. 28, US$1 was equivalent to 4.46 ringgits.