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Stamford Tyres fiscal Q3 profit climbs YOY

Stamford Tyres Corp. Ltd. said its normalized net income for the fiscal third quarter ended Jan. 31 came to S$765,000, a rise from S$731,880 in the year-earlier period.

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

The normalized profit margin dropped to 1.0% from 1.0% in the year-earlier period.

Total revenue rose year over year to S$75.0 million from S$71.7 million, and total operating expenses increased from the prior-year period to S$73.0 million from S$69.9 million.

Reported net income grew from the prior-year period to S$855,000, or 0 cents per share, from S$838,000, or 0 cents per share.

As of March 13, US$1 was equivalent to S$1.39.