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Beingmate Baby & Child Food Q3 loss widens 84.6% YOY

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Beingmate Baby & Child Food Q3 loss widens 84.6% YOY

Beingmate Baby & Child Food Co. Ltd. said its normalized net income for the third quarter amounted to a loss of 17 fen per share, compared with a loss of 9 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 a loss of 174.2 million yuan, compared with a loss of 94.3 million yuan in the year-earlier period.

The normalized profit margin fell to negative 37.1% from negative 10.8% in the year-earlier period.

Total revenue decreased 46.2% on an annual basis to 469.2 million yuan from 871.5 million yuan, and total operating expenses declined 25.5% from the prior-year period to 764.2 million yuan from 1.03 billion yuan.

Reported net income totaled a loss of 194.8 million yuan, or a loss of 19 fen per share, compared to a loss of 113.0 million yuan, or a loss of 11 fen per share, in the prior-year period.

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