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MoneyMax Q3 profit climbs YOY

MoneyMax Financial Services Ltd. said its third-quarter normalized net income came to S$1.5 million, a rise from S$608,500 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 4.7% from 2.6% in the year-earlier period.

Total revenue climbed 33.9% year over year to S$31.7 million from S$23.6 million, and total operating expenses grew 31.9% on an annual basis to S$27.8 million from S$21.0 million.

Reported net income increased from the prior-year period to S$1.7 million, or 0 cents per share, from S$737,000, or 0 cents per share.

As of Nov. 10, US$1 was equivalent to S$1.41.