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MoneyMax Q4 profit climbs YOY

MoneyMax Financial Services Ltd. said its normalized net income for the fourth quarter amounted to S$633,380, an increase from S$313,380 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 2.6% from 1.6% in the year-earlier period.

Total revenue rose 34.5% on an annual basis to S$25.9 million from S$19.3 million, and total operating expenses rose 31.8% on an annual basis to S$23.8 million from S$18.1 million.

Reported net income increased from the prior-year period to S$1.0 million, or 0 cents per share, from S$79,000, or 0 cents per share.

For the year, the company's normalized net income totaled S$2.4 million, an increase from S$986,000 in the prior year.

Full-year total revenue grew 29.0% from the prior-year period to S$94.0 million from S$72.9 million, and total operating expenses increased 25.2% year over year to S$86.1 million from S$68.7 million.

The company said reported net income increased on an annual basis to S$3.1 million, or 1 cents per share, in the full year, from S$872,000, or 0 cents per share.

As of April 11, US$1 was equivalent to S$1.34.