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Taiwan Paiho Q2 profit climbs 29.0% YOY

Taiwan Paiho Ltd said its second-quarter normalized net income was NT$1.14 per share, compared with the S&P Capital IQ consensus estimate of NT$1.31 per share.

EPS increased 29.1% year over year from 88 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$340.2 million, a gain of 29.0% from NT$263.7 million in the prior-year period.

The normalized profit margin rose to 12.7% from 11.0% in the year-earlier period.

Total revenue rose 12.5% year over year to NT$2.69 billion from NT$2.39 billion, and total operating expenses climbed 10.2% year over year to NT$2.06 billion from NT$1.86 billion.

Reported net income grew 30.1% year over year to NT$372.6 million, or NT$1.25 per share, from NT$286.3 million, or 96 cents per share.

As of Aug. 12, US$1 was equivalent to NT$31.39.