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Laobaixing Pharmacy Q3 profit climbs 18.6% YOY

Laobaixing Pharmacy Chain Joint Stock Company said its normalized net income for the third quarter came to 16 fen per share, a gain of 22.6% from 13 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 43.2 million yuan, an increase of 18.6% from 36.4 million yuan in the year-earlier period.

The normalized profit margin dropped to 3.1% from 3.2% in the year-earlier period.

Total revenue rose 37.6% on an annual basis to 1.55 billion yuan from 1.12 billion yuan, and total operating expenses grew 36.5% from the prior-year period to 1.45 billion yuan from 1.06 billion yuan.

Reported net income rose 45.1% from the prior-year period to 63.4 million yuan, or 24 fen per share, from 43.7 million yuan, or 16 fen per share.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.