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Thakral swings to profit in Q1

Thakral Corp. Ltd. said its first-quarter normalized net income was S$761,130, compared with a loss of S$309,000 in the prior-year period.

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

The normalized profit margin increased to 0.9% from negative 0.4% in the year-earlier period.

Total revenue totaled S$80.3 million, compared with S$79.8 million in the year-earlier period, and total operating expenses totaled S$77.6 million, compared with S$78.2 million in the prior-year period.

Reported net income came to S$628,130, or 0 cents per share, compared to a loss of S$353,320, or a loss of 0 cents per share, in the year-earlier period.

As of April 28, US$1 was equivalent to S$1.35.