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Japfa Q2 profit climbs YOY

Japfa Ltd. said its second-quarter normalized net income amounted to $14.6 million, a rise from $7.2 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 2.1% from 0.9% in the year-earlier period.

Total revenue fell 8.2% on an annual basis to $704.3 million from $767.3 million, and total operating expenses declined 5.8% on an annual basis to $660.2 million from $700.7 million.

Reported net income fell 85.7% year over year to $3.0 million, or 0 cents per share, from $20.8 million, or 1 cents per share.