Marco Holdings Berhad said its first-quarter normalized net income was 4.3 million ringgits, a rise of 28.4% from 3.3 million ringgits in the prior-year period.

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

The normalized profit margin climbed to 9.3% from 8.9% in the year-earlier period.

Total revenue increased 22.6% year over year to 46.0 million ringgits from 37.5 million ringgits, and total operating expenses increased 22.2% on an annual basis to 39.5 million ringgits from 32.3 million ringgits.

Reported net income increased 31.3% year over year to 5.2 million ringgits, or 0 sen per share, from 3.9 million ringgits, or 0 sen per share.

As of May 18, US$1 was equivalent to 3.58 ringgits.