Cocoaland Holdings Bhd. said its normalized net income for the first quarter amounted to 3 Malaysian sen per share, a gain from 1 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 6.6 million ringgits, a gain from 2.9 million ringgits in the year-earlier period.

The normalized profit margin rose to 9.8% from 4.9% in the year-earlier period.

Total revenue rose 14.3% on an annual basis to 67.7 million ringgits from 59.3 million ringgits, and total operating expenses climbed 5.5% on an annual basis to 58.1 million ringgits from 55.1 million ringgits.

Reported net income increased year over year to 8.0 million ringgits, or 4 sen per share, from 3.4 million ringgits, or 1 sen per share.

As of May 25, US$1 was equivalent to 3.62 ringgits.