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Metro Holdings fiscal Q1 profit climbs YOY

Metro Holdings Ltd. said its normalized net income for the fiscal first quarter ended June 30 was S$5.6 million, a gain from S$5.4 million in the year-earlier period.

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

The normalized profit margin rose to 17.8% from 17.1% in the year-earlier period.

Total revenue totaled S$31.2 million, compared with S$31.4 million in the prior-year period, and total operating expenses increased 6.2% from the prior-year period to S$34.2 million from S$32.2 million.

Reported net income grew from the prior-year period to S$10.1 million, or 1 cents per share, from S$3.2 million, or 0 cents per share.

As of Aug. 11, US$1 was equivalent to S$1.25.