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Oceanic Beverages Q1 profit climbs YOY

Oceanic Beverages Co. Inc. said its first-quarter normalized net income came to 15 Taiwan cents per share, an increase from 7 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$8.5 million, a gain from NT$4.2 million in the prior-year period.

The normalized profit margin climbed to 4.7% from 2.5% in the year-earlier period.

Total revenue grew 10.0% year over year to NT$182.7 million from NT$166.0 million, and total operating expenses climbed 6.2% from the prior-year period to NT$170.2 million from NT$160.3 million.

Reported net income grew year over year to NT$11.1 million, or 20 cents per share, from NT$3.8 million, or 7 cents per share.

As of May 8, US$1 was equivalent to NT$30.70.