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Kee Song Bio-Technology Q1 profit climbs 27.4% YOY

Kee Song Bio-Technology Holdings Ltd said its first-quarter normalized net income came to 70 Taiwan cents per share, an increase of 27.4% from 55 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$23.9 million, an increase of 27.4% from NT$18.8 million in the year-earlier period.

The normalized profit margin climbed to 7.4% from 5.7% in the year-earlier period.

Total revenue fell on an annual basis to NT$324.2 million from NT$329.5 million, and total operating expenses decreased year over year to NT$291.6 million from NT$302.6 million.

Reported net income grew 23.2% from the prior-year period to NT$30.7 million, or 90 cents per share, from NT$24.9 million, or 73 cents per share.

As of May 14, US$1 was equivalent to NT$30.54.