HL Global Enterprises Ltd said its third-quarter normalized net income was S$403,130, a gain of 99.1% from S$202,500 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 10.9% from 5.4% in the year-earlier period.

Total revenue declined on an annual basis to S$3.7 million from S$3.7 million, and total operating expenses came to S$3.0 million, compared with S$3.0 million in the year-earlier period.

Reported net income grew on an annual basis to S$507,130, or 1 cents per share, from S$169,050, or 0 cents per share.

As of Nov. 3, US$1 was equivalent to S$1.38.