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Shandong Linglong Tyre Q3 profit climbs 37.9% YOY

Shandong Linglong Tyre Co.,Ltd. said its normalized net income for the third quarter amounted to 15 fen per share, an increase of 28.8% from 12 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 164.5 million yuan, an increase of 37.9% from 119.3 million yuan in the prior-year period.

The normalized profit margin increased to 6.1% from 5.5% in the year-earlier period.

Total revenue increased 22.6% year over year to 2.68 billion yuan from 2.18 billion yuan, and total operating expenses increased 22.8% year over year to 2.35 billion yuan from 1.92 billion yuan.

Reported net income rose 28.4% from the prior-year period to 219.7 million yuan, or 21 fen per share, from 171.1 million yuan, or 17 fen per share.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.