Best World International Ltd. said its first-quarter normalized net income was S$4.9 million, a gain from S$307,880 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 13.8% from 2.3% in the year-earlier period.

Total revenue climbed year over year to S$35.2 million from S$13.5 million, and total operating expenses grew 95.3% from the prior-year period to S$26.1 million from S$13.3 million.

Reported net income increased on an annual basis to S$6.0 million, or 1 cents per share, from S$249,000, or 0 cents per share.

As of May 11, US$1 was equivalent to S$1.37.