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Best World International Q2 profit climbs YOY

Best World International Ltd. said its second-quarter normalized net income amounted to S$6.9 million, an increase from S$1.7 million 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 13.4% from 8.1% in the year-earlier period.

Total revenue grew on an annual basis to S$51.6 million from S$21.0 million, and total operating expenses increased on an annual basis to S$41.2 million from S$18.1 million.

Reported net income grew on an annual basis to S$7.4 million, or 1 cents per share, from S$2.1 million, or 0 cents per share.

As of Aug. 4, US$1 was equivalent to S$1.34.