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Lian Hwa Foods Q3 profit climbs 86.9% YOY

Lian Hwa Foods Corp. said its normalized net income for the third quarter came to 43 Taiwan cents per share, an increase of 86.8% from 23 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$68.0 million, a gain of 86.9% from NT$36.4 million in the prior-year period.

The normalized profit margin rose to 3.9% from 2.1% in the year-earlier period.

Total revenue climbed on an annual basis to NT$1.75 billion from NT$1.71 billion, and total operating expenses totaled NT$1.66 billion, compared with NT$1.65 billion in the year-earlier period.

Reported net income grew on an annual basis to NT$118.6 million, or 74 cents per share, from NT$53.3 million, or 33 cents per share.

As of Nov. 11, US$1 was equivalent to NT$32.72.