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Chung Hwa Food Industrial Q1 profit climbs 9.3% YOY

Chung Hwa Food Industrial Co. Ltd. said its first-quarter normalized net income came to 32 Taiwan cents per share, a gain of 9.3% from 30 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$26.2 million, a gain of 9.3% from NT$23.9 million in the year-earlier period.

The normalized profit margin rose to 8.5% from 8.2% in the year-earlier period.

Total revenue climbed 5.2% on an annual basis to NT$306.4 million from NT$291.3 million, and total operating expenses climbed on an annual basis to NT$265.6 million from NT$254.0 million.

Reported net income grew 9.1% from the prior-year period to NT$34.9 million, or 43 cents per share, from NT$32.0 million, or 39 cents per share.

As of May 14, US$1 was equivalent to NT$30.54.