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SEG International Q3 profit climbs YOY

SEG International Bhd. said its normalized net income for the third quarter was 8.7 million ringgits, a gain from 4.2 million ringgits in the year-earlier period.

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

The normalized profit margin increased to 12.3% from 6.8% in the year-earlier period.

Total revenue climbed 15.7% on an annual basis to 71.0 million ringgits from 61.4 million ringgits, and total operating expenses climbed from the prior-year period to 59.3 million ringgits from 57.5 million ringgits.

Reported net income rose on an annual basis to 12.6 million ringgits, or 1 sen per share, from 5.3 million ringgits, or 0 sen per share.

As of Nov. 24, US$1 was equivalent to 4.40 ringgits.