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MoneyMax Q3 profit climbs YOY

MoneyMax Financial Services Ltd. said its normalized net income for the third quarter was S$624,250, a gain from S$132,000 in the year-earlier period.

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

The normalized profit margin increased to 2.6% from 0.7% in the year-earlier period.

Total revenue increased 23.4% year over year to S$23.6 million from S$19.2 million, and total operating expenses grew 17.6% from the prior-year period to S$21.4 million from S$18.2 million.

Reported net income rose from the prior-year period to S$757,000, or 0 cents per share, from S$73,000, or 0 cents per share.

As of Nov. 13, US$1 was equivalent to S$1.42.