MoneyMax Financial Services Ltd. said its normalized net income for the second quarter was S$1.2 million, a gain from S$497,630 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 4.1% from 2.3% in the year-earlier period.

Total revenue increased 37.1% on an annual basis to S$30.0 million from S$21.9 million, and total operating expenses rose 33.2% from the prior-year period to S$26.8 million from S$20.1 million.

Reported net income increased on an annual basis to S$1.4 million, or 0 cents per share, from S$598,000, or 0 cents per share.

As of Aug. 11, US$1 was equivalent to S$1.34.