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Eagle Cold Storage Enterprise Q3 profit falls YOY

Eagle Cold Storage Enterprise Co. Ltd. said its third-quarter normalized net income was 11 Taiwan cents per share, a decrease of 47.0% from 21 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$12.0 million, a decrease of 45.6% from NT$22.1 million in the year-earlier period.

The normalized profit margin dropped to 2.3% from 2.5% in the year-earlier period.

Total revenue decreased 42.5% on an annual basis to NT$516.8 million from NT$898.8 million, and total operating expenses decreased 33.9% from the prior-year period to NT$508.4 million from NT$768.6 million.

Reported net income fell 23.5% on an annual basis to NT$41.6 million, or 38 cents per share, from NT$54.3 million, or 51 cents per share.

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