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SYF Resources fiscal Q1 profit climbs YOY

SYF Resources Bhd. said its normalized net income for the fiscal first quarter ended Oct. 31 was 8.1 million ringgits, a gain from 3.5 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 8.6% from 5.8% in the year-earlier period.

Total revenue rose 58.1% year over year to 94.9 million ringgits from 60.0 million ringgits, and total operating expenses increased 49.7% on an annual basis to 80.3 million ringgits from 53.6 million ringgits.

Reported net income increased from the prior-year period to 10.8 million ringgits, or 2 sen per share, from 5.1 million ringgits, or 1 sen per share.

As of Dec. 16, US$1 was equivalent to 4.31 ringgits.