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Straco Q3 profit falls YOY

Straco Corp. Ltd. said its third-quarter normalized net income was 2 Singapore cents per share, a decline from 2 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was S$19.4 million, a decline from S$20.3 million in the prior-year period.

The normalized profit margin declined to 40.8% from 41.1% in the year-earlier period.

Total revenue decreased year over year to S$47.6 million from S$49.3 million, and total operating expenses decreased from the prior-year period to S$16.0 million from S$16.1 million.

Reported net income decreased on an annual basis to S$22.7 million, or 3 cents per share, from S$23.6 million, or 3 cents per share.

As of Nov. 10, US$1 was equivalent to S$1.41.