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Sern Kou Resources fiscal Q2 profit climbs 49.5% YOY

Sern Kou Resources Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, came to 94,380 ringgits, an increase of 49.5% from 63,130 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 0.4% from 0.3% in the year-earlier period.

Total revenue rose 16.7% year over year to 25.3 million ringgits from 21.7 million ringgits, and total operating expenses increased 17.0% on an annual basis to 25.1 million ringgits from 21.4 million ringgits.

Reported net income rose 45.3% from the prior-year period to 138,000 ringgits, or 0 sen per share, from 95,000 ringgits, or 0 sen per share.

As of Feb. 24, US$1 was equivalent to 3.64 ringgits.