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Central Automotive Products fiscal Q2 profit climbs 10.8% YOY

Central Automotive Products Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥22.73 per share, a gain of 10.9% from ¥20.50 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥410.0 million, an increase of 10.8% from ¥370.0 million in the prior-year period.

The normalized profit margin increased to 9.6% from 8.9% in the year-earlier period.

Total revenue grew year over year to ¥4.25 billion from ¥4.17 billion, and total operating expenses climbed from the prior-year period to ¥3.66 billion from ¥3.62 billion.

Reported net income grew 21.2% from the prior-year period to ¥468.0 million, or ¥25.94 per share, from ¥386.0 million, or ¥21.39 per share.

As of Nov. 11, US$1 was equivalent to ¥122.91.