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Kwong Lung Enterprise Q3 profit climbs 21.3% YOY

Kwong Lung Enterprise Co. Ltd. said its third-quarter normalized net income was NT$1.72 per share, an increase of 13.7% from NT$1.51 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$186.4 million, an increase of 21.3% from NT$153.7 million in the prior-year period.

The normalized profit margin increased to 6.3% from 5.7% in the year-earlier period.

Total revenue rose 9.4% year over year to NT$2.94 billion from NT$2.69 billion, and total operating expenses increased 7.2% on an annual basis to NT$2.65 billion from NT$2.47 billion.

Reported net income rose 27.2% on an annual basis to NT$255.6 million, or NT$2.36 per share, from NT$200.9 million, or NT$1.98 per share.

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