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House Foods fiscal Q3 profit climbs 18.8% YOY

House Foods Group Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥29.72 per share, a gain of 22.3% from ¥24.31 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.05 billion, an increase of 18.8% from ¥2.57 billion in the year-earlier period.

The normalized profit margin increased to 4.7% from 4.1% in the year-earlier period.

Total revenue climbed on an annual basis to ¥65.07 billion from ¥62.89 billion, and total operating expenses grew from the prior-year period to ¥60.76 billion from ¥59.02 billion.

Reported net income declined 19.7% on an annual basis to ¥3.77 billion, or ¥36.66 per share, from ¥4.69 billion, or ¥44.38 per share.

As of Feb. 12, US$1 was equivalent to ¥118.90.