FCW Holdings Bhd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 2.3 million ringgits, an increase of 17.0% from 1.9 million ringgits 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 34.6% from 32.8% in the year-earlier period.

Total revenue rose 10.8% on an annual basis to 6.5 million ringgits from 5.9 million ringgits, and total operating expenses climbed 44.3% year over year to 5.0 million ringgits from 3.5 million ringgits.

Reported net income declined 14.0% year over year to 2.7 million ringgits, or 1 sen per share, from 3.1 million ringgits, or 1 sen per share.

As of May 25, US$1 was equivalent to 4.10 ringgits.