An-shin Food Services Co. Ltd. said its normalized net income for the first quarter amounted to 89 Taiwan cents per share, a gain of 24.8% from 72 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$29.0 million, a gain of 24.7% from NT$23.2 million in the year-earlier period.

The normalized profit margin rose to 2.6% from 2.2% in the year-earlier period.

Total revenue climbed 5.7% on an annual basis to NT$1.11 billion from NT$1.05 billion, and total operating expenses increased from the prior-year period to NT$1.08 billion from NT$1.03 billion.

Reported net income rose 29.0% from the prior-year period to NT$33.1 million, or NT$1.02 per share, from NT$25.6 million, or 79 cents per share.

As of May 9, US$1 was equivalent to NT$32.54.