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Japfa Q1 profit climbs YOY

Japfa Ltd. said its normalized net income for the first quarter came to $17.3 million, a gain from $2.8 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 2.4% from 0.4% in the year-earlier period.

Total revenue increased 6.2% on an annual basis to $717.7 million from $675.7 million, and total operating expenses climbed on an annual basis to $662.5 million from $644.2 million.

Reported net income increased on an annual basis to $23.4 million, or 1 cents per share, from $7.0 million, or 0 cents per share.