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Lay Hong fiscal Q3 profit climbs YOY

Lay Hong Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 5.4 million ringgits, an increase from 596,630 ringgits in the prior-year period.

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

The normalized profit margin rose to 3.0% from 0.4% in the year-earlier period.

Total revenue climbed 21.4% year over year to 177.2 million ringgits from 146.0 million ringgits, and total operating expenses grew 16.0% from the prior-year period to 165.4 million ringgits from 142.6 million ringgits.

Reported net income grew year over year to 6.3 million ringgits, or 1 sen per share, from 1.1 million ringgits, or 0 sen per share.

As of Feb. 24, US$1 was equivalent to 3.64 ringgits.