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Indo Kordsa Q1 profit climbs 52.3% YOY

PT Indo Kordsa Tbk said its first-quarter normalized net income came to $3.5 million, an increase of 52.3% from $2.3 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 rose to 6.7% from 4.6% in the year-earlier period.

Total revenue rose on an annual basis to $52.1 million from $50.0 million, and total operating expenses totaled $44.4 million, compared with $44.1 million in the prior-year period.

Reported net income rose 67.7% year over year to $4.4 million, or 1 cents per share, from $2.6 million, or 1 cents per share.