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Saudee Group fiscal Q1 profit climbs YOY

Saudee Group Bhd. said its normalized net income for the fiscal first quarter ended Aug. 31 was 345,000 ringgits, a gain from 125,000 ringgits in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 0.8% from 0.3% in the year-earlier period.

Total revenue increased on an annual basis to 43.3 million ringgits from 41.5 million ringgits, and total operating expenses climbed from the prior-year period to 41.9 million ringgits from 40.5 million ringgits.

Reported net income rose year over year to 393,000 ringgits, or 0 sen per share, from 126,000 ringgits, or 0 sen per share.

As of Oct. 28, US$1 was equivalent to 4.26 ringgits.