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Lian Hwa Foods Q1 profit climbs YOY

Lian Hwa Foods Corp. said its first-quarter normalized net income amounted to 47 Taiwan cents per share, a gain from 9 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$74.5 million, an increase from NT$14.0 million in the year-earlier period.

The normalized profit margin increased to 4.4% from 1.1% in the year-earlier period.

Total revenue increased 30.0% on an annual basis to NT$1.68 billion from NT$1.29 billion, and total operating expenses rose 22.2% from the prior-year period to NT$1.56 billion from NT$1.28 billion.

Reported net income increased on an annual basis to NT$97.9 million, or 61 cents per share, from NT$25.2 million, or 16 cents per share.

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