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Poh Huat Resources fiscal Q2 profit climbs 57.3% YOY

Poh Huat Resources Holdings Bhd. said its normalized net income for the fiscal second quarter ended April 30 amounted to 2 Malaysian sen per share, a gain of 57.0% from 1 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 3.4 million ringgits, an increase of 57.3% from 2.2 million ringgits in the prior-year period.

The normalized profit margin increased to 3.6% from 2.6% in the year-earlier period.

Total revenue increased 13.9% year over year to 96.2 million ringgits from 84.4 million ringgits, and total operating expenses climbed 12.3% on an annual basis to 90.4 million ringgits from 80.5 million ringgits.

Reported net income rose 77.1% on an annual basis to 4.5 million ringgits, or 2 sen per share, from 2.6 million ringgits, or 1 sen per share.

As of June 29, US$1 was equivalent to 3.78 ringgits.