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Shenzhen MTC Q3 profit falls YOY

Shenzhen MTC Co. Ltd. said its third-quarter normalized net income amounted to 2 fen per share, a decrease of 33.5% from 4 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 99.2 million yuan, a decline of 33.9% from 150.1 million yuan in the year-earlier period.

The normalized profit margin fell to 4.8% from 8.3% in the year-earlier period.

Total revenue climbed 12.8% year over year to 2.05 billion yuan from 1.82 billion yuan, and total operating expenses climbed 21.2% year over year to 1.94 billion yuan from 1.60 billion yuan.

Reported net income decreased 21.0% on an annual basis to 128.5 million yuan, or 3 fen per share, from 162.7 million yuan, or 4 fen per share.

As of Oct. 25, US$1 was equivalent to 6.78 yuan.