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Lanzhou Sanmao Industrial Q3 loss widens YOY

Lanzhou Sanmao Industrial Co. Ltd. said its normalized net income for the third quarter came to a loss of 5 fen per share, compared with a loss of 2 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 a loss of 9.3 million yuan, compared with a loss of 3.6 million yuan in the prior-year period.

The normalized profit margin declined to negative 14.3% from negative 6.1% in the year-earlier period.

Total revenue increased 10.1% on an annual basis to 64.9 million yuan from 59.0 million yuan, and total operating expenses grew 8.6% on an annual basis to 71.0 million yuan from 65.4 million yuan.

Reported net income totaled a loss of 14.8 million yuan, or a loss of 8 fen per share, compared to a loss of 5.8 million yuan, or a loss of 3 fen per share, in the prior-year period.

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