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HL Global Enterprises swings to profit in Q4

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HL Global Enterprises swings to profit in Q4

HL Global Enterprises Ltd said its fourth-quarter normalized net income amounted to S$153,750, compared with a loss of S$473,750 in the year-earlier period.

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

The normalized profit margin increased to 4.0% from negative 13.3% in the year-earlier period.

Total revenue climbed 7.1% on an annual basis to S$3.8 million from S$3.6 million, and total operating expenses decreased 26.3% on an annual basis to S$2.6 million from S$3.5 million.

Reported net income totaled S$150,250, or 0 cents per share, compared to a loss of S$807,690, or a loss of 1 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 1 cents per share, compared with a loss of 1 cents per share in the prior year.

Normalized net income was a loss of S$1.1 million, compared with a loss of S$1.4 million in the prior year.

Full-year total revenue rose 33.9% on an annual basis to S$13.4 million from S$10.0 million, and total operating expenses grew 17.2% year over year to S$11.3 million from S$9.6 million.

The company said reported net income totaled a loss of S$2.2 million, or a loss of 2 cents per share, in the full year, compared with income of S$3.6 million, or 4 cents per share, the prior year.

As of April 13, US$1 was equivalent to S$1.35.