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Teo Seng Capital Q1 profit climbs 77.3% YOY

Teo Seng Capital Bhd. said its first-quarter normalized net income came to 5 Malaysian sen per share, an increase of 76.4% from 3 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 14.8 million ringgits, a gain of 77.3% from 8.3 million ringgits in the prior-year period.

The normalized profit margin climbed to 13.1% from 9.6% in the year-earlier period.

Total revenue climbed 29.4% year over year to 112.6 million ringgits from 87.0 million ringgits, and total operating expenses climbed 20.6% on an annual basis to 88.1 million ringgits from 73.1 million ringgits.

Reported net income increased 70.3% from the prior-year period to 17.5 million ringgits, or 6 sen per share, from 10.3 million ringgits, or 3 sen per share.

As of April 30, US$1 was equivalent to 3.57 ringgits.