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Guangdong Wens Foodstuff Q3 profit climbs 74.7% YOY

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Guangdong Wens Foodstuff Q3 profit climbs 74.7% YOY

Guangdong Wens Foodstuff Group Co. Ltd. said its normalized net income for the third quarter was 43 fen per share, an increase of 77.3% from 24 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.95 billion yuan, an increase of 74.7% from 1.12 billion yuan in the prior-year period.

The normalized profit margin increased to 13.1% from 10.4% in the year-earlier period.

Total revenue increased 27.7% year over year to 13.67 billion yuan from 10.70 billion yuan, and total operating expenses rose 19.0% on an annual basis to 10.38 billion yuan from 8.72 billion yuan.

Reported net income rose 71.0% year over year to 3.12 billion yuan, or 68 fen per share, from 1.83 billion yuan, or 39 fen per share.

As of Oct. 26, US$1 was equivalent to 6.35 yuan.