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Man Zai Industrial Q3 profit climbs 24.0% YOY

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Man Zai Industrial Q3 profit climbs 24.0% YOY

Man Zai Industrial Co. Ltd. said its normalized net income for the third quarter came to 66 Taiwan cents per share, an increase of 23.9% from 53 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$34.3 million, an increase of 24.0% from NT$27.7 million in the year-earlier period.

The normalized profit margin climbed to 11.9% from 8.2% in the year-earlier period.

Total revenue fell 14.5% on an annual basis to NT$289.4 million from NT$338.4 million, and total operating expenses declined 7.8% on an annual basis to NT$269.0 million from NT$291.8 million.

Reported net income grew 25.8% year over year to NT$45.7 million, or 88 cents per share, from NT$36.4 million, or 70 cents per share.

As of Nov. 16, US$1 was equivalent to NT$32.83.