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Duty Free International fiscal Q2 profit climbs 23.7% YOY

Duty Free International Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 came to 10.5 million ringgits, an increase of 23.7% from 8.5 million ringgits 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 7.7% from 6.5% in the year-earlier period.

Total revenue grew year over year to 136.7 million ringgits from 130.3 million ringgits, and total operating expenses rose 8.0% on an annual basis to 121.1 million ringgits from 112.2 million ringgits.

Reported net income rose 44.5% on an annual basis to 12.0 million ringgits, or 1 sen per share, from 8.3 million ringgits, or 1 sen per share.

As of Oct. 13, US$1 was equivalent to 3.26 ringgits.