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Japfa Q2 profit climbs YOY

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Japfa Q2 profit climbs YOY

Japfa Ltd. said its second-quarter normalized net income was $32.3 million, an increase from $14.6 million in the prior-year period.

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

The normalized profit margin climbed to 4.1% from 2.1% in the year-earlier period.

Total revenue increased 11.0% year over year to $782.1 million from $704.3 million, and total operating expenses grew from the prior-year period to $674.2 million from $660.2 million.

Reported net income grew from the prior-year period to $44.6 million, or 3 cents per share, from $3.0 million, or 0 cents per share.