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Yue Yuen Industrial Q1 profit climbs 22.4% YOY

Yue Yuen Industrial (Holdings) Ltd said its first-quarter normalized net income was $64.5 million, an increase of 22.4% from $52.7 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 rose to 3.3% from 2.9% in the year-earlier period.

Total revenue rose 7.3% year over year to $1.97 billion from $1.83 billion, and total operating expenses rose 7.7% from the prior-year period to $1.91 billion from $1.77 billion.

Reported net income totaled $90.1 million, compared with $70.2 million in the prior-year period.