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SHH Resources fiscal Q1 profit climbs YOY

SHH Resources Holdings Bhd. said its normalized net income for the fiscal first quarter ended Sept. 30 amounted to 3.6 million ringgits, an increase from 444,380 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 climbed to 11.3% from 2.0% in the year-earlier period.

Total revenue grew 47.0% year over year to 32.1 million ringgits from 21.8 million ringgits, and total operating expenses rose 24.6% from the prior-year period to 26.2 million ringgits from 21.0 million ringgits.

Reported net income grew from the prior-year period to 3.5 million ringgits, or 7 sen per share, from 393,000 ringgits, or 1 sen per share.

As of Nov. 30, US$1 was equivalent to 4.25 ringgits.