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Latitude Tree fiscal Q3 profit climbs 55.6% YOY

Latitude Tree Holdings Bhd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 14 Malaysian sen per share, a gain of 55.6% from 9 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 13.1 million ringgits, a gain of 55.6% from 8.4 million ringgits in the prior-year period.

The normalized profit margin increased to 7.9% from 5.7% in the year-earlier period.

Total revenue climbed 12.8% year over year to 165.6 million ringgits from 146.8 million ringgits, and total operating expenses climbed 9.5% on an annual basis to 143.6 million ringgits from 131.1 million ringgits.

Reported net income increased 53.0% on an annual basis to 19.5 million ringgits, or 20 sen per share, from 12.8 million ringgits, or 13 sen per share.

As of May 28, US$1 was equivalent to 3.65 ringgits.