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Fu Yu Property Q1 loss widens 42.0% YOY

Fu Yu Property Co. Ltd. said its normalized net income for the first quarter came to a loss of 6 Taiwan cents per share, compared with a loss of 4 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 a loss of NT$6.8 million, compared with a loss of NT$4.8 million in the year-earlier period.

The normalized profit margin was 32.1%.

Total revenue grew on an annual basis to NT$21.1 million from NT$105,000, and total operating expenses grew year over year to NT$31.5 million from NT$7.8 million.

Reported net income came to a loss of NT$10.1 million, or a loss of 9 cents per share, compared to a loss of NT$7.1 million, or a loss of 6 cents per share, in the prior-year period.

As of May 13, US$1 was equivalent to NT$32.68.