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Chinadive Watersports Q3 profit climbs 14.7% YOY

China Dive Co. Ltd. said its normalized net income for the third quarter was 3 fen per share, a decrease of 19.6% from 3 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.6 million yuan, a gain of 14.7% from 4.0 million yuan in the prior-year period.

The normalized profit margin increased to 5.3% from 4.8% in the year-earlier period.

Total revenue climbed year over year to 86.9 million yuan from 83.4 million yuan, and total operating expenses grew 9.2% year over year to 77.1 million yuan from 70.6 million yuan.

Reported net income decreased 14.5% from the prior-year period to 5.4 million yuan, or 3 fen per share, from 6.3 million yuan, or 5 fen per share.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.