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Giant Manufacturing Q3 profit climbs 17.1% YOY

Giant Manufacturing Co. Ltd. said its normalized net income for the third quarter came to NT$2.81 per share, compared with the S&P Capital IQ consensus estimate of NT$3.17 per share.

EPS increased 17.1% year over year from NT$2.40.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was NT$1.05 billion, an increase of 17.1% from NT$898.8 million in the prior-year period.

The normalized profit margin climbed to 6.2% from 5.4% in the year-earlier period.

Total revenue increased on an annual basis to NT$17.11 billion from NT$16.70 billion, and total operating expenses increased from the prior-year period to NT$15.81 billion from NT$15.40 billion.

Reported net income grew 5.5% year over year to NT$1.22 billion, or NT$3.24 per share, from NT$1.15 billion, or NT$3.07 per share.

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