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Lay Hong fiscal Q2 profit climbs YOY

Lay Hong Bhd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 4.8 million ringgits, a gain from 1.2 million 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 increased to 2.9% from 0.8% in the year-earlier period.

Total revenue climbed 14.2% on an annual basis to 166.8 million ringgits from 146.1 million ringgits, and total operating expenses rose 10.6% year over year to 156.6 million ringgits from 141.6 million ringgits.

Reported net income rose from the prior-year period to 6.3 million ringgits, or 1 sen per share, from 911,480 ringgits, or 0 sen per share.

As of Oct. 9, US$1 was equivalent to 3.24 ringgits.