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DGB Asia fiscal Q1 profit climbs YOY

DGB Asia Bhd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to 635,630 ringgits, an increase from 87,250 ringgits in the prior-year period.

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

The normalized profit margin rose to 26.1% from 4.6% in the year-earlier period.

Total revenue rose 29.1% on an annual basis to 2.4 million ringgits from 1.9 million ringgits, and total operating expenses decreased 18.9% from the prior-year period to 1.4 million ringgits from 1.8 million ringgits.

Reported net income grew from the prior-year period to 1.0 million ringgits, or 0 sen per share, from 146,700 ringgits, or 0 sen per share.

As of Feb. 26, US$1 was equivalent to 4.20 ringgits.