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Liaoning Wellhope Agri-Tech Q3 profit climbs 13.4% YOY

Liaoning Wellhope Agri-Tech JSC Ltd. said its normalized net income for the third quarter amounted to 11 fen per share, an increase of 13.3% 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 83.6 million yuan, a gain of 13.4% from 73.7 million yuan in the year-earlier period.

The normalized profit margin increased to 2.4% from 2.4% in the year-earlier period.

Total revenue rose 11.1% year over year to 3.43 billion yuan from 3.09 billion yuan, and total operating expenses rose 10.9% from the prior-year period to 3.28 billion yuan from 2.96 billion yuan.

Reported net income grew 27.4% on an annual basis to 111.0 million yuan, or 14 fen per share, from 87.1 million yuan, or 11 fen per share.

As of Oct. 26, US$1 was equivalent to 6.77 yuan.