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Straco Q4 profit climbs 33.5% YOY

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Straco Q4 profit climbs 33.5% YOY

Straco Corp. Ltd. said its fourth-quarter normalized net income came to S$6.0 million, a rise of 33.5% from S$4.5 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 increased to 25.3% from 23.2% in the year-earlier period.

Total revenue climbed 22.7% year over year to S$23.8 million from S$19.4 million, and total operating expenses climbed 9.2% on an annual basis to S$14.5 million from S$13.2 million.

Reported net income increased 43.2% from the prior-year period to S$6.3 million, or 1 cents per share, from S$4.4 million, or 1 cents per share.

For the year, the company's normalized net income totaled 5 cents per share, an increase of 23.8% from 4 cents per share in the prior year.

Normalized net income was S$42.8 million, an increase of 24.4% from S$34.4 million in the prior year.

Full-year total revenue rose 38.3% from the prior-year period to S$127.7 million from S$92.3 million, and total operating expenses rose 52.1% year over year to S$58.2 million from S$38.3 million.

The company said reported net income increased 30.1% on an annual basis to S$49.0 million, or 6 cents per share, in the full year, from S$37.7 million, or 4 cents per share.

As of April 13, US$1 was equivalent to S$1.35.