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Suiwah fiscal Q2 profit climbs 84.9% YOY

Suiwah Corp. Bhd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2014, came to 5 Malaysian sen per share, a gain of 84.9% from 3 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 3.0 million ringgits, a gain of 84.9% from 1.6 million ringgits in the year-earlier period.

The normalized profit margin climbed to 3.4% from 2.0% in the year-earlier period.

Total revenue increased 7.3% year over year to 90.4 million ringgits from 84.2 million ringgits, and total operating expenses climbed year over year to 85.3 million ringgits from 81.5 million ringgits.

Reported net income grew year over year to 3.4 million ringgits, or 6 sen per share, from 3.2 million ringgits, or 6 sen per share.

As of Jan. 28, US$1 was equivalent to 3.63 ringgits.