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Rex Industry posts Q4 profit

Rex Industry Bhd. said its fourth-quarter normalized net income came to 1.1 million ringgits.

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

The normalized profit margin was 2.5%.

Total revenue came to 44.9 million ringgits, and total operating expenses came to 43.0 million ringgits.

Reported net income totaled 1.0 million ringgits, or 0 sen per share.

For the year, the company's normalized net income totaled 2.6 million ringgits, a rise from 1.2 million ringgits in the prior year.

Full-year total revenue increased 38.6% from the prior-year period to 165.2 million ringgits from 119.2 million ringgits, and total operating expenses grew 38.3% year over year to 160.5 million ringgits from 116.0 million ringgits.

The company said reported net income came to 4.0 million ringgits, or 2 sen per share, in the full year, compared with a loss of 183,220 ringgits, or a loss of 0 sen per share, the prior year.

As of Feb. 22, US$1 was equivalent to 4.19 ringgits.