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Mr Onion Q2 profit climbs YOY

Mr. Onion Corp. said its second-quarter normalized net income was NT$1.00 per share, an increase from 97 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$14.6 million, an increase from NT$14.2 million in the prior-year period.

The normalized profit margin fell to 6.3% from 6.5% in the year-earlier period.

Total revenue increased 7.1% on an annual basis to NT$232.2 million from NT$216.8 million, and total operating expenses rose 7.6% year over year to NT$209.2 million from NT$194.5 million.

Reported net income declined 12.4% from the prior-year period to NT$13.5 million, or 92 cents per share, from NT$15.4 million, or NT$1.05 per share.

As of Aug. 6, US$1 was equivalent to NT$31.63.