SUTL Enterprise Ltd said its second-quarter normalized net income amounted to S$463,750, a rise of 37.4% from S$337,500 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 7.0% from 5.0% in the year-earlier period.

Total revenue fell year over year to S$6.6 million from S$6.7 million, and total operating expenses fell year over year to S$6.0 million from S$6.1 million.

Reported net income declined 14.8% on an annual basis to S$598,000, or 1 cents per share, from S$702,000, or 2 cents per share.

As of Aug. 11, US$1 was equivalent to S$1.34.