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Oceancash Pacific Q3 profit climbs YOY

Oceancash Pacific Bhd. said its normalized net income for the third quarter amounted to 1.7 million ringgits, a rise from 70,000 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 climbed to 8.9% from 0.4% in the year-earlier period.

Total revenue climbed 9.8% year over year to 19.5 million ringgits from 17.7 million ringgits, and total operating expenses totaled 17.5 million ringgits, compared with 17.5 million ringgits in the year-earlier period.

Reported net income totaled 2.4 million ringgits, or 1 sen per share, compared to a loss of 483,000 ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Nov. 25, US$1 was equivalent to 4.21 ringgits.