SUTL Enterprise Ltd said its second-quarter normalized net income came to S$420,130, an increase of 64.4% from S$255,630 in the prior-year period.

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

The normalized profit margin increased to 5.0% from 3.6% in the year-earlier period.

Total revenue increased year over year to S$15.3 million from S$7.2 million, and total operating expenses rose from the prior-year period to S$14.9 million from S$6.7 million.

Reported net income grew year over year to S$429,000, or 1 cents per share, from S$409,000, or 1 cents per share.

As of Aug. 6, US$1 was equivalent to S$1.39.