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Charoen Pokphand Enterprise (Taiwan) Q2 profit climbs YOY

Charoen Pokphand Enterprise (Taiwan) Co. Ltd. said its normalized net income for the second quarter was 84 Taiwan cents per share, an increase from 32 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$224.9 million, an increase from NT$85.6 million in the prior-year period.

The normalized profit margin rose to 5.2% from 2.2% in the year-earlier period.

Total revenue increased 10.4% on an annual basis to NT$4.34 billion from NT$3.93 billion, and total operating expenses increased year over year to NT$3.99 billion from NT$3.81 billion.

Reported net income increased from the prior-year period to NT$289.9 million, or NT$1.08 per share, from NT$102.0 million, or 38 cents per share.

As of Aug. 1, US$1 was equivalent to NT$31.57.