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Lii Hen Industries Q1 profit climbs 29.6% YOY

Lii Hen Industries Bhd. said its first-quarter normalized net income came to 5 Malaysian sen per share, a gain of 29.7% from 4 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 8.7 million ringgits, an increase of 29.6% from 6.7 million ringgits in the prior-year period.

The normalized profit margin increased to 7.7% from 7.0% in the year-earlier period.

Total revenue rose 17.6% on an annual basis to 112.1 million ringgits from 95.3 million ringgits, and total operating expenses rose 18.9% from the prior-year period to 101.5 million ringgits from 85.4 million ringgits.

Reported net income increased 30.1% on an annual basis to 10.7 million ringgits, or 6 sen per share, from 8.3 million ringgits, or 5 sen per share.

As of May 25, US$1 was equivalent to 3.62 ringgits.