Premier Nalfin Bhd. said its normalized net income for the first quarter amounted to 313,130 ringgits, an increase of 12.3% from 278,750 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 31.6% from 28.7% in the year-earlier period.

Total revenue rose year over year to 991,000 ringgits from 971,000 ringgits, and total operating expenses declined 6.7% year over year to 490,000 ringgits from 525,000 ringgits.

Reported net income increased 15.1% on an annual basis to 420,000 ringgits, or 0 sen per share, from 365,000 ringgits, or 0 sen per share.

As of May 27, US$1 was equivalent to 3.65 ringgits.