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Hai-O Enterprise fiscal Q2 profit climbs 27.8% YOY

Hai-O Enterprise Bhd. said its normalized net income for the fiscal second quarter ended Oct. 31 amounted to 3 Malaysian sen per share, a gain of 28.6% from 2 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.3 million ringgits, a gain of 27.8% from 5.8 million ringgits in the prior-year period.

The normalized profit margin climbed to 10.0% from 10.0% in the year-earlier period.

Total revenue rose 27.5% on an annual basis to 73.6 million ringgits from 57.7 million ringgits, and total operating expenses increased 28.8% from the prior-year period to 62.1 million ringgits from 48.2 million ringgits.

Reported net income grew 24.7% year over year to 8.9 million ringgits, or 3 sen per share, from 7.2 million ringgits, or 2 sen per share.

As of Dec. 16, US$1 was equivalent to 4.31 ringgits.