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Best World International Q3 profit climbs YOY

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Best World International Q3 profit climbs YOY

Best World International Ltd. said its third-quarter normalized net income came to S$2.9 million, a gain from S$1.1 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 11.2% from 5.7% in the year-earlier period.

Total revenue climbed 36.2% year over year to S$26.2 million from S$19.2 million, and total operating expenses increased 24.7% on an annual basis to S$21.9 million from S$17.6 million.

Reported net income grew from the prior-year period to S$4.0 million, or 1 cents per share, from S$1.1 million, or 0 cents per share.

As of Nov. 9, US$1 was equivalent to S$1.42.