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Choo Chiang H1 profit climbs 10.2% YOY

Choo Chiang Holdings Ltd. said its normalized net income for the first half came to S$1.8 million, a gain of 10.2% from S$1.6 million in the prior-year period.

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

Total revenue decreased year over year to S$31.0 million from S$31.6 million, and total operating expenses fell year over year to S$28.0 million from S$28.8 million.

Reported net income grew 12.6% from the prior-year period to S$2.5 million, or 1 cents per share, from S$2.2 million, or 1 cents per share.

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