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Oceancash Pacific Q1 profit climbs 20.1% YOY

Oceancash Pacific Bhd. said its normalized net income for the first quarter amounted to 1.7 million ringgits, a rise of 20.1% from 1.4 million ringgits in the year-earlier period.

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

The normalized profit margin increased to 8.2% from 8.0% in the year-earlier period.

Total revenue climbed 17.2% year over year to 20.4 million ringgits from 17.4 million ringgits, and total operating expenses climbed 16.1% on an annual basis to 18.0 million ringgits from 15.5 million ringgits.

Reported net income increased 24.2% on an annual basis to 2.2 million ringgits, or 1 sen per share, from 1.8 million ringgits, or 1 sen per share.

As of May 28, US$1 was equivalent to 3.65 ringgits.