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Nan Ya Plastics Q2 profit climbs 114.8% YOY

Nan Ya Plastics Corp. said its normalized net income for the second quarter amounted to NT$1.26 per share, compared with the S&P Capital IQ consensus estimate of NT$1.35 per share.

EPS climbed 114.8% year over year from 59 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$10.02 billion, a gain of 114.8% from NT$4.67 billion in the prior-year period.

The normalized profit margin rose to 12.2% from 5.6% in the year-earlier period.

Total revenue declined year over year to NT$82.02 billion from NT$83.22 billion, and total operating expenses declined 6.8% year over year to NT$74.19 billion from NT$79.59 billion.

Reported net income grew 25.4% on an annual basis to NT$12.56 billion, or NT$1.58 per share, from NT$10.02 billion, or NT$1.26 per share.

As of Aug. 13, US$1 was equivalent to NT$32.18.