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Homeritz fiscal Q2 profit climbs 28.1% YOY

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Homeritz fiscal Q2 profit climbs 28.1% YOY

Homeritz Corp. Bhd. said its normalized net income for the fiscal second quarter ended Feb. 29 came to 2 Malaysian sen per share, a gain of 27.4% from 2 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.7 million ringgits, an increase of 28.1% from 5.2 million ringgits in the year-earlier period.

The normalized profit margin climbed to 15.7% from 13.8% in the year-earlier period.

Total revenue increased 12.3% year over year to 42.5 million ringgits from 37.8 million ringgits, and total operating expenses increased 11.7% on an annual basis to 31.8 million ringgits from 28.5 million ringgits.

Reported net income increased 23.2% from the prior-year period to 8.1 million ringgits, or 3 sen per share, from 6.6 million ringgits, or 2 sen per share.

As of April 28, US$1 was equivalent to 3.89 ringgits.