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Japfa Q3 profit climbs 88.4% YOY

Japfa Ltd. said its normalized net income for the third quarter was $27.7 million, a gain of 88.4% from $14.7 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 increased to 3.8% from 2.1% in the year-earlier period.

Total revenue increased 13.3% year over year to $788.0 million from $695.3 million, and total operating expenses rose 8.4% on an annual basis to $682.6 million from $629.5 million.

Reported net income increased year over year to $48.0 million, or 3 cents per share, from $8.0 million, or 0 cents per share.