New Hoong Fatt Holdings Bhd. said its normalized net income for the first quarter amounted to 4 Malaysian sen per share, a gain of 51.9% from 3 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 3.3 million ringgits, an increase of 51.9% from 2.2 million ringgits in the year-earlier period.
The normalized profit margin climbed to 6.9% from 4.7% in the year-earlier period.
Total revenue climbed on an annual basis to 48.2 million ringgits from 46.0 million ringgits, and total operating expenses grew year over year to 42.7 million ringgits from 42.0 million ringgits.
Reported net income grew 76.1% year over year to 4.4 million ringgits, or 6 sen per share, from 2.5 million ringgits, or 3 sen per share.
As of May 5, US$1 was equivalent to 3.60 ringgits.
