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Lian Hwa Foods Q1 profit climbs YOY

Lian Hwa Foods Corp. said its first-quarter normalized net income came to 48 Taiwan cents per share, a gain from 47 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$76.4 million, a gain from NT$74.5 million in the prior-year period.

The normalized profit margin rose to 4.5% from 4.4% in the year-earlier period.

Total revenue came to NT$1.69 billion, compared with NT$1.68 billion in the year-earlier period, and total operating expenses totaled NT$1.57 billion, compared with NT$1.56 billion in the year-earlier period.

Reported net income rose 27.4% on an annual basis to NT$124.6 million, or 78 cents per share, from NT$97.9 million, or 61 cents per share.

As of May 13, US$1 was equivalent to NT$32.68.