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Ching Feng Home Fashions Q3 profit climbs 66.9% YOY

Ching Feng Home Fashions Co. Ltd. said its third-quarter normalized net income amounted to 9 Taiwan cents per share, a gain of 51.4% from 6 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$14.4 million, an increase of 66.9% from NT$8.6 million in the prior-year period.

The normalized profit margin rose to 1.5% from 1.1% in the year-earlier period.

Total revenue rose 18.3% year over year to NT$934.1 million from NT$789.9 million, and total operating expenses climbed 18.8% year over year to NT$906.1 million from NT$762.9 million.

Reported net income increased year over year to NT$16.5 million, or 11 cents per share, from NT$1.4 million, or 1 cents per share.

As of Nov. 14, US$1 was equivalent to NT$31.98.