Amway (Malaysia) Holdings Bhd. said its first-quarter normalized net income was 19 Malaysian sen per share, a gain of 45.8% from 13 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 31.3 million ringgits, a gain of 45.8% from 21.4 million ringgits in the year-earlier period.

The normalized profit margin declined to 9.7% from 10.1% in the year-earlier period.

Total revenue grew 51.0% year over year to 322.0 million ringgits from 213.3 million ringgits, and total operating expenses grew 51.4% on an annual basis to 273.5 million ringgits from 180.6 million ringgits.

Reported net income increased 44.7% on an annual basis to 36.8 million ringgits, or 22 sen per share, from 25.5 million ringgits, or 15 sen per share.

As of May 15, US$1 was equivalent to 3.56 ringgits.