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Karex fiscal Q2 profit climbs 44.3% YOY

Karex Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 2 Malaysian sen per share, a gain of 31.7% from 1 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 17.3 million ringgits, a gain of 44.3% from 12.0 million ringgits in the year-earlier period.

The normalized profit margin increased to 17.9% from 15.6% in the year-earlier period.

Total revenue rose 25.4% year over year to 96.6 million ringgits from 77.0 million ringgits, and total operating expenses increased 22.6% year over year to 70.6 million ringgits from 57.6 million ringgits.

Reported net income rose 55.7% year over year to 22.6 million ringgits, or 2 sen per share, from 14.5 million ringgits, or 2 sen per share.

As of Feb. 24, US$1 was equivalent to 4.24 ringgits.