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Taiwan Sakura Q2 profit climbs 98.9% YOY

Taiwan Sakura Corp. said its normalized net income for the second quarter amounted to 52 Taiwan cents per share, a gain of 98.9% from 26 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$114.6 million, a gain of 98.9% from NT$57.6 million in the prior-year period.

The normalized profit margin increased to 9.0% from 5.3% in the year-earlier period.

Total revenue increased 16.9% on an annual basis to NT$1.27 billion from NT$1.09 billion, and total operating expenses climbed 14.4% on an annual basis to NT$1.14 billion from NT$997.5 million.

Reported net income rose from the prior-year period to NT$164.4 million, or 75 cents per share, from NT$60.3 million, or 28 cents per share.

As of Aug. 11, US$1 was equivalent to NT$31.26.