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Yue Yuen Industrial Q1 profit climbs 9.9% YOY

Yue Yuen Industrial (Holdings) Ltd said its first-quarter normalized net income amounted to $70.9 million, an increase of 9.9% from $64.5 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 3.5% from 3.3% in the year-earlier period.

Total revenue increased year over year to $2.03 billion from $1.97 billion, and total operating expenses grew year over year to $1.93 billion from $1.91 billion.

Reported net income came to $95.3 million, compared with $90.1 million in the prior-year period.