Japan Foods Holding Ltd. said its normalized net income for the fiscal first quarter ended June 30 was S$790,630, a gain of 17.2% from S$674,380 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 5.0% from 4.3% in the year-earlier period.

Total revenue came to S$15.8 million, compared with S$15.7 million in the prior-year period, and total operating expenses came to S$14.6 million, compared with S$14.6 million in the year-earlier period.

Reported net income increased 28.8% year over year to S$1.1 million, or 1 cents per share, from S$816,000, or 0 cents per share.

As of Aug. 4, US$1 was equivalent to S$1.38.