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Namchow Holdings Q1 profit climbs 22.3% YOY

Namchow Holdings Co. Ltd. said its first-quarter normalized net income came to 93 Taiwan cents per share, compared with the S&P Capital IQ consensus estimate of 85 cents per share.

EPS climbed 22.2% year over year from 76 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$230.8 million, a gain of 22.3% from NT$188.8 million in the year-earlier period.

The normalized profit margin increased to 6.5% from 5.6% in the year-earlier period.

Total revenue climbed 6.3% year over year to NT$3.57 billion from NT$3.36 billion, and total operating expenses grew on an annual basis to NT$3.18 billion from NT$3.03 billion.

Reported net income rose 38.1% on an annual basis to NT$288.0 million, or NT$1.16 per share, from NT$208.5 million, or 84 cents per share.

As of May 14, US$1 was equivalent to NT$30.54.