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Chain Yarn H1 profit climbs YOY

Chain Yarn Corp. said its first-half normalized net income was 4 Taiwan cents per share, an increase from 2 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$6.1 million, an increase from NT$2.8 million in the prior-year period.

Total revenue fell 22.3% year over year to NT$2.79 billion from NT$3.59 billion, and total operating expenses fell 22.8% from the prior-year period to NT$2.73 billion from NT$3.54 billion.

Reported net income rose year over year to NT$8.5 million, or 5 cents per share, from NT$3.8 million, or 2 cents per share.

As of Aug. 15, US$1 was equivalent to NT$31.33.