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Saudee Group fiscal Q3 profit climbs YOY

Saudee Group Bhd. said its normalized net income for the fiscal third quarter ended Feb. 28 was 629,380 ringgits, a gain from 128,750 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 rose to 1.4% from 0.4% in the year-earlier period.

Total revenue grew 35.3% on an annual basis to 45.5 million ringgits from 33.7 million ringgits, and total operating expenses rose 33.2% from the prior-year period to 43.7 million ringgits from 32.8 million ringgits.

Reported net income grew from the prior-year period to 915,000 ringgits, or 1 sen per share, from 31,000 ringgits, or 0 sen per share.

As of April 30, US$1 was equivalent to 3.57 ringgits.