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Henan Shuanghui Investment Q3 profit climbs 26.0% YOY

Henan Shuanghui Investment & Development Co. Ltd. said its normalized net income for the third quarter came to 28 fen per share, compared with the S&P Capital IQ consensus estimate of 32 fen per share.

EPS rose 26.0% year over year from 22 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 923.2 million yuan, an increase of 26.0% from 732.6 million yuan in the prior-year period.

The normalized profit margin increased to 7.8% from 6.0% in the year-earlier period.

Total revenue fell year over year to 11.85 billion yuan from 12.11 billion yuan, and total operating expenses declined on an annual basis to 10.39 billion yuan from 10.90 billion yuan.

Reported net income grew 17.7% year over year to 1.14 billion yuan, or 34 fen per share, from 965.3 million yuan, or 29 fen per share.

As of Oct. 29, US$1 was equivalent to 6.36 yuan.