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Prolexus fiscal Q4 profit climbs 67.5% YOY

Prolexus Bhd. said its normalized net income for the fiscal fourth quarter ended July 31 amounted to 5 Malaysian sen per share, a gain of 51.0% from 3 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.3 million ringgits, an increase of 67.5% from 3.8 million ringgits in the year-earlier period.

The normalized profit margin rose to 5.3% from 4.2% in the year-earlier period.

Total revenue increased 33.7% year over year to 120.0 million ringgits from 89.7 million ringgits, and total operating expenses rose 32.0% from the prior-year period to 108.8 million ringgits from 82.4 million ringgits.

Reported net income grew 5.7% year over year to 6.0 million ringgits, or 5 sen per share, from 5.7 million ringgits, or 5 sen per share.

For the year, the company's normalized net income totaled 14 sen per share, a gain of 21.3% from 12 sen per share in the prior year.

Normalized net income was 16.2 million ringgits, an increase of 26.3% from 12.8 million ringgits in the prior year.

Full-year total revenue grew 19.1% from the prior-year period to 350.3 million ringgits from 294.1 million ringgits, and total operating expenses grew 18.2% year over year to 318.8 million ringgits from 269.7 million ringgits.

The company said reported net income rose 10.2% on an annual basis to 20.4 million ringgits, or 18 sen per share, in the full year, from 18.5 million ringgits, or 17 sen per share.

As of Nov. 18, US$1 was equivalent to 4.36 ringgits.