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Joyoung Q3 profit falls YOY

Joyoung Co. Ltd. said its third-quarter normalized net income was 17 fen per share, a decrease from 18 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 132.8 million yuan, a decline of 5.0% from 139.7 million yuan in the year-earlier period.

The normalized profit margin climbed to 7.7% from 7.6% in the year-earlier period.

Total revenue declined 6.8% on an annual basis to 1.72 billion yuan from 1.85 billion yuan, and total operating expenses declined 7.2% from the prior-year period to 1.53 billion yuan from 1.65 billion yuan.

Reported net income came to 182.4 million yuan, or 24 fen per share, compared to 185.7 million yuan, or 24 fen per share, in the year-earlier period.

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