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Lian Hwa Foods Q2 profit climbs YOY

Lian Hwa Foods Corp. said its second-quarter normalized net income came to 40 Taiwan cents per share, a gain from 10 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$64.1 million, an increase from NT$16.4 million in the prior-year period.

The normalized profit margin rose to 4.2% from 1.1% in the year-earlier period.

Total revenue rose year over year to NT$1.51 billion from NT$1.46 billion, and total operating expenses fell on an annual basis to NT$1.41 billion from NT$1.44 billion.

Reported net income grew from the prior-year period to NT$75.6 million, or 47 cents per share, from NT$31.1 million, or 19 cents per share.

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