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CNPC Capital Q3 profit climbs 27.6% YOY

CNPC Capital Co. Ltd. said its normalized net income for the third quarter was 9 fen per share, an increase from 9 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 788.1 million yuan, an increase of 27.6% from 617.7 million yuan in the year-earlier period.

The normalized profit margin increased to 10.9% from 8.9% in the year-earlier period.

Total revenue rose on an annual basis to 7.23 billion yuan from 6.91 billion yuan, and total operating expenses decreased 11.9% year over year to 1.11 billion yuan from 1.26 billion yuan.

Reported net income increased 52.2% year over year to 1.41 billion yuan, or 16 fen per share, from 924.8 million yuan, or 13 fen per share.

As of Oct. 27, US$1 was equivalent to 6.65 yuan.