ABR Holdings Ltd. said its first-quarter normalized net income was S$1.4 million, an increase of 7.7% from S$1.3 million in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin climbed to 5.6% from 5.1% in the year-earlier period.
Total revenue decreased on an annual basis to S$24.4 million from S$25.0 million, and total operating expenses decreased year over year to S$23.4 million from S$23.8 million.
Reported net income decreased 10.4% on an annual basis to S$1.5 million, or 1 cents per share, from S$1.6 million, or 1 cents per share.
As of May 14, US$1 was equivalent to S$1.32.
