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Sern Kou Resources fiscal Q3 profit climbs 9.8% YOY

Sern Kou Resources Bhd. said its normalized net income for the fiscal third quarter ended March 31 came to 583,750 ringgits, a gain of 9.8% from 531,880 ringgits in the prior-year period.

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

The normalized profit margin increased to 2.1% from 1.5% in the year-earlier period.

Total revenue fell 19.8% on an annual basis to 27.6 million ringgits from 34.4 million ringgits, and total operating expenses declined 23.7% year over year to 25.9 million ringgits from 34.0 million ringgits.

Reported net income grew year over year to 871,000 ringgits, or 1 sen per share, from 838,000 ringgits, or 1 sen per share.

As of May 26, US$1 was equivalent to 4.06 ringgits.