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Old Chang Kee fiscal Q2 profit climbs YOY

Old Chang Kee Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to S$932,500, an increase from S$893,130 in the year-earlier period.

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

The normalized profit margin dropped to 4.9% from 4.9% in the year-earlier period.

Total revenue increased 5.3% on an annual basis to S$19.1 million from S$18.2 million, and total operating expenses increased from the prior-year period to S$17.6 million from S$17.0 million.

Reported net income increased 14.9% year over year to S$1.2 million, or 1 cents per share, from S$1.1 million, or 1 cents per share.

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