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SYF Resources fiscal Q3 profit climbs 34.7% YOY

SYF Resources Bhd. said its normalized net income for the fiscal third quarter ended April 30 amounted to 7.4 million ringgits, an increase of 34.7% from 5.5 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 7.5% from 7.0% in the year-earlier period.

Total revenue climbed 25.3% year over year to 98.7 million ringgits from 78.8 million ringgits, and total operating expenses grew 23.6% on an annual basis to 84.9 million ringgits from 68.7 million ringgits.

Reported net income grew 41.8% on an annual basis to 9.2 million ringgits, or 1 sen per share, from 6.5 million ringgits, or 1 sen per share.

As of June 21, US$1 was equivalent to 4.03 ringgits.