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Chung Hwa Food Industrial Q4 profit climbs 35.4% YOY

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Chung Hwa Food Industrial Q4 profit climbs 35.4% YOY

Chung Hwa Food Industrial Co. Ltd. said its normalized net income for the fourth quarter came to 43 Taiwan cents per share, an increase of 35.2% from 32 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$34.6 million, a gain of 35.4% from NT$25.6 million in the year-earlier period.

The normalized profit margin increased to 10.3% from 8.1% in the year-earlier period.

Total revenue climbed 7.8% year over year to NT$342.1 million from NT$317.3 million, and total operating expenses increased year over year to NT$287.3 million from NT$276.4 million.

Reported net income grew 36.4% year over year to NT$46.6 million, or 58 cents per share, from NT$34.2 million, or 42 cents per share.

For the year, the company's normalized net income totaled NT$1.71 per share, a gain of 34.6% from NT$1.27 per share in the prior year.

Normalized net income was NT$138.0 million, an increase of 34.6% from NT$102.5 million in the prior year.

Full-year total revenue rose 6.0% year over year to NT$1.31 billion from NT$1.23 billion, and total operating expenses increased year over year to NT$1.09 billion from NT$1.07 billion.

The company said reported net income grew 32.2% year over year to NT$182.6 million, or NT$2.26 per share, in the full year, from NT$138.2 million, or NT$1.71 per share.

As of March 28, US$1 was equivalent to NT$32.62.