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Lii Hen Industries Q4 profit climbs 94.9% YOY

Lii Hen Industries Bhd. said its fourth-quarter normalized net income amounted to 9 Malaysian sen per share, an increase of 94.9% from 5 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 16.7 million ringgits, a gain of 94.9% from 8.6 million ringgits in the year-earlier period.

The normalized profit margin climbed to 11.0% from 8.3% in the year-earlier period.

Total revenue climbed 47.9% on an annual basis to 152.3 million ringgits from 103.0 million ringgits, and total operating expenses increased 28.7% from the prior-year period to 127.7 million ringgits from 99.2 million ringgits.

Reported net income rose on an annual basis to 18.7 million ringgits, or 10 sen per share, from 7.8 million ringgits, or 4 sen per share.

For the year, the company's normalized net income totaled 27 sen per share, an increase from 13 sen per share in the prior year.

Normalized net income was 48.1 million ringgits, a gain from 23.2 million ringgits in the prior year.

Full-year total revenue rose 37.4% on an annual basis to 546.9 million ringgits from 397.9 million ringgits, and total operating expenses rose 28.0% on an annual basis to 476.8 million ringgits from 372.5 million ringgits.

The company said reported net income rose on an annual basis to 57.6 million ringgits, or 32 sen per share, in the full year, from 28.3 million ringgits, or 16 sen per share.

As of March 29, US$1 was equivalent to 4.00 ringgits.