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Orient International Enterprise Q3 profit climbs 13.8% YOY

Orient International Enterprise Ltd. said its normalized net income for the third quarter amounted to 5 fen per share, a gain of 27.3% from 4 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 25.1 million yuan, an increase of 13.8% from 22.1 million yuan in the prior-year period.

The normalized profit margin dropped to 0.6% from 0.6% in the year-earlier period.

Total revenue climbed 19.5% year over year to 4.41 billion yuan from 3.69 billion yuan, and total operating expenses climbed 19.2% year over year to 4.38 billion yuan from 3.68 billion yuan.

Reported net income rose 78.7% year over year to 30.2 million yuan, or 6 fen per share, from 16.9 million yuan, or 3 fen per share.

As of Oct. 21, US$1 was equivalent to 6.77 yuan.