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Ve Wong Q3 profit climbs YOY

Ve Wong Corp. said its third-quarter normalized net income came to 36 Taiwan cents per share, an increase from 36 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$86.4 million, a gain from NT$85.3 million in the prior-year period.

The normalized profit margin rose to 5.3% from 4.7% in the year-earlier period.

Total revenue fell 8.9% on an annual basis to NT$1.64 billion from NT$1.80 billion, and total operating expenses decreased 12.3% on an annual basis to NT$1.42 billion from NT$1.62 billion.

Reported net income came to NT$111.7 million, or 47 cents per share, compared to NT$111.7 million, or 47 cents per share, in the prior-year period.

As of Nov. 11, US$1 was equivalent to NT$31.93.