Yeo Hiap Seng Ltd. said its normalized net income for the first quarter amounted to S$6.1 million, an increase of 27.4% from S$4.8 million 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 5.0% from 4.3% in the year-earlier period.
Total revenue grew 8.9% year over year to S$121.5 million from S$111.6 million, and total operating expenses increased 5.4% from the prior-year period to S$112.8 million from S$107.0 million.
Reported net income grew 24.3% year over year to S$9.1 million, or 2 cents per share, from S$7.4 million, or 1 cents per share.
As of April 24, US$1 was equivalent to S$1.33.
