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Best World International Q3 profit climbs YOY

Best World International Ltd. said its normalized net income for the third quarter was S$8.6 million, a gain from S$2.9 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 16.6% from 11.2% in the year-earlier period.

Total revenue increased 99.1% year over year to S$52.2 million from S$26.2 million, and total operating expenses climbed 74.3% from the prior-year period to S$38.2 million from S$21.9 million.

Reported net income grew on an annual basis to S$8.9 million, or 2 cents per share, from S$4.0 million, or 1 cents per share.

As of Nov. 4, US$1 was equivalent to S$1.38.