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Straco Q3 profit climbs 16.7% YOY

Straco Corp. Ltd. said its third-quarter normalized net income was 2 Singapore cents per share, a gain of 16.1% from 2 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was S$20.3 million, a gain of 16.7% from S$17.4 million in the prior-year period.

The normalized profit margin fell to 41.1% from 45.0% in the year-earlier period.

Total revenue climbed 27.8% on an annual basis to S$49.3 million from S$38.6 million, and total operating expenses increased 47.3% on an annual basis to S$16.1 million from S$10.9 million.

Reported net income grew 20.5% from the prior-year period to S$23.6 million, or 3 cents per share, from S$19.6 million, or 2 cents per share.

As of Nov. 13, US$1 was equivalent to S$1.42.