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Hubei Mailyard Share swings to profit in Q3

Hubei Mailyard Share Co. Ltd. said its third-quarter normalized net income amounted to 1.1 million yuan, compared with a loss of 854,400 yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 1.4% from negative 0.9% in the year-earlier period.

Total revenue decreased on an annual basis to 91.3 million yuan from 93.7 million yuan, and total operating expenses climbed on an annual basis to 90.3 million yuan from 88.3 million yuan.

Reported net income increased on an annual basis to 1.9 million yuan, or 1 fen per share, from 904,360 yuan, or 0 fen per share.

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