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Chung Hwa Food Industrial Q3 profit climbs 41.0% YOY

Chung Hwa Food Industrial Co. Ltd. said its third-quarter normalized net income amounted to 55 Taiwan cents per share, a gain of 41.1% from 39 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$44.7 million, an increase of 41.0% from NT$31.7 million in the year-earlier period.

The normalized profit margin rose to 13.0% from 9.7% in the year-earlier period.

Total revenue increased 5.0% on an annual basis to NT$343.0 million from NT$326.6 million, and total operating expenses declined year over year to NT$273.0 million from NT$276.7 million.

Reported net income increased 36.2% year over year to NT$57.4 million, or 71 cents per share, from NT$42.2 million, or 52 cents per share.

As of Nov. 12, US$1 was equivalent to NT$32.73.