Lee Swee Kiat Group Bhd. said its normalized net income for the first quarter came to 894,380 ringgits, an increase from 375,630 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 rose to 4.0% from 2.2% in the year-earlier period.

Total revenue climbed 34.0% year over year to 22.6 million ringgits from 16.9 million ringgits, and total operating expenses grew 31.1% on an annual basis to 21.1 million ringgits from 16.1 million ringgits.

Reported net income increased on an annual basis to 1.4 million ringgits, or 1 sen per share, from 601,000 ringgits, or 0 sen per share.

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