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Federal Furniture Q1 profit climbs 57.8% YOY

Federal Furniture Holdings (M) Bhd. said its normalized net income for the first quarter was 665,130 ringgits, a gain of 57.8% from 421,380 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 3.6% from 2.6% in the year-earlier period.

Total revenue climbed 15.3% year over year to 18.7 million ringgits from 16.2 million ringgits, and total operating expenses rose 13.5% on an annual basis to 17.5 million ringgits from 15.4 million ringgits.

Reported net income grew 19.5% from the prior-year period to 811,300 ringgits, or 1 sen per share, from 679,000 ringgits, or 1 sen per share.

As of May 27, US$1 was equivalent to 3.65 ringgits.