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Homeritz fiscal Q2 profit climbs 64.9% YOY

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Homeritz fiscal Q2 profit climbs 64.9% YOY

Homeritz Corp. Bhd. said its normalized net income for the fiscal second quarter ended Feb. 28 came to 2 Malaysian sen per share, a gain of 65.0% from 1 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 5.2 million ringgits, a gain of 64.9% from 3.2 million ringgits in the year-earlier period.

The normalized profit margin climbed to 13.8% from 11.0% in the year-earlier period.

Total revenue grew 32.1% on an annual basis to 37.8 million ringgits from 28.6 million ringgits, and total operating expenses increased 28.3% from the prior-year period to 28.5 million ringgits from 22.2 million ringgits.

Reported net income rose 42.3% from the prior-year period to 6.6 million ringgits, or 2 sen per share, from 4.6 million ringgits, or 2 sen per share.

As of April 29, US$1 was equivalent to 3.55 ringgits.