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Challenger Technologies Q2 profit climbs 12.7% YOY

Challenger Technologies Ltd. said its second-quarter normalized net income came to S$3.0 million, a gain of 12.7% from S$2.7 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 3.3% from 3.2% in the year-earlier period.

Total revenue grew 7.7% year over year to S$91.2 million from S$84.7 million, and total operating expenses grew 8.1% year over year to S$86.9 million from S$80.3 million.

Reported net income rose 9.8% from the prior-year period to S$3.8 million, or 1 cents per share, from S$3.4 million, or 1 cents per share.

As of Aug. 2, US$1 was equivalent to S$1.34.