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Guilin Layn Natural Ingredients Q3 profit falls YOY

Guilin Layn Natural Ingredients Corp. said its normalized net income for the third quarter amounted to 3 fen per share, a decline of 62.1% from 8 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 11.3 million yuan, a decline of 65.7% from 32.9 million yuan in the prior-year period.

The normalized profit margin dropped to 9.2% from 23.5% in the year-earlier period.

Total revenue fell 12.2% on an annual basis to 122.9 million yuan from 140.0 million yuan, and total operating expenses climbed 24.1% from the prior-year period to 108.8 million yuan from 87.7 million yuan.

Reported net income fell 63.8% from the prior-year period to 15.7 million yuan, or 4 fen per share, from 43.5 million yuan, or 10 fen per share.

As of Oct. 25, US$1 was equivalent to 6.78 yuan.