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Poh Huat Resources fiscal Q1 profit climbs 40.8% YOY

Poh Huat Resources Holdings Bhd. said its normalized net income for the fiscal first quarter ended Jan. 31 came to 3 Malaysian sen per share, an increase of 40.8% from 2 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.3 million ringgits, an increase of 40.8% from 4.5 million ringgits in the prior-year period.

The normalized profit margin rose to 6.0% from 4.7% in the year-earlier period.

Total revenue climbed 10.0% year over year to 105.1 million ringgits from 95.5 million ringgits, and total operating expenses rose 7.6% on an annual basis to 94.6 million ringgits from 87.8 million ringgits.

Reported net income increased 29.5% year over year to 8.2 million ringgits, or 4 sen per share, from 6.3 million ringgits, or 3 sen per share.

As of March 19, US$1 was equivalent to 3.70 ringgits.