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Rex Industry Q3 profit climbs YOY

Rex Industry Bhd. said its normalized net income for the third quarter amounted to 1.4 million ringgits, a gain from 466,250 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 rose to 3.3% from 1.2% in the year-earlier period.

Total revenue grew on an annual basis to 41.6 million ringgits from 39.7 million ringgits, and total operating expenses grew from the prior-year period to 39.3 million ringgits from 38.6 million ringgits.

Reported net income grew on an annual basis to 1.6 million ringgits, or 1 sen per share, from 568,000 ringgits, or 0 sen per share.

As of Nov. 19, US$1 was equivalent to 4.28 ringgits.