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Fujian Sunner Development profit misses consensus by 54.6% in Q3

Fujian Sunner Development Co. Ltd. said its third-quarter normalized net income came to 14 fen per share, compared with the S&P Capital IQ consensus estimate of 32 fen per share.

EPS rose year over year from 3 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 160.7 million yuan, a gain from 28.0 million yuan in the year-earlier period.

The normalized profit margin rose to 7.3% from 1.5% in the year-earlier period.

Total revenue grew 18.4% year over year to 2.22 billion yuan from 1.87 billion yuan, and total operating expenses climbed year over year to 1.90 billion yuan from 1.88 billion yuan.

Reported net income rose year over year to 257.3 million yuan, or 23 fen per share, from 4.0 million yuan, or 0 fen per share.

As of Oct. 24, US$1 was equivalent to 6.77 yuan.