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Chi Hua Fitness Q1 profit climbs 22.1% YOY

Chi Hua Fitness Co. Ltd. said its normalized net income for the first quarter came to 38 Taiwan cents per share, a gain of 14.8% from 33 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$11.3 million, a gain of 22.1% from NT$9.3 million in the prior-year period.

The normalized profit margin rose to 5.6% from 4.9% in the year-earlier period.

Total revenue rose 6.6% on an annual basis to NT$200.9 million from NT$188.5 million, and total operating expenses grew on an annual basis to NT$185.4 million from NT$179.5 million.

Reported net income grew 31.0% from the prior-year period to NT$15.2 million, or 52 cents per share, from NT$11.6 million, or 42 cents per share.

As of May 12, US$1 was equivalent to NT$30.75.