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Beijing Urban-Rural Trade Centre Q3 profit falls YOY

Beijing Urban-Rural Trade Centre Co. Ltd. said its normalized net income for the third quarter came to 10 fen per share, a decrease of 6.0% from 11 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 32.1 million yuan, a decrease of 6.0% from 34.2 million yuan in the year-earlier period.

The normalized profit margin increased to 5.4% from 4.2% in the year-earlier period.

Total revenue fell 31.0% on an annual basis to 567.2 million yuan from 821.6 million yuan, and total operating expenses declined 34.3% year over year to 500.8 million yuan from 762.8 million yuan.

Reported net income increased from the prior-year period to 38.5 million yuan, or 12 fen per share, from 37.1 million yuan, or 12 fen per share.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.