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Flavor Full Foods H1 profit falls YOY

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Flavor Full Foods H1 profit falls YOY

Flavor Full Foods Inc. said its normalized net income for the first half came to 11 Taiwan cents per share, a decline of 58.5% from 26 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$11.0 million, a decrease of 58.1% from NT$26.3 million in the prior-year period.

Total revenue decreased 17.1% year over year to NT$1.25 billion from NT$1.51 billion, and total operating expenses decreased 18.1% year over year to NT$1.19 billion from NT$1.46 billion.

Reported net income grew on an annual basis to NT$371.7 million, or NT$3.60 per share, from NT$41.6 million, or 41 cents per share.

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