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Ningbo Zhoushan Port Q3 profit climbs 43.5% YOY

Ningbo Zhoushan Port Co. Ltd. said its third-quarter normalized net income came to 5 fen per share, an increase of 44.5% 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 720.4 million yuan, an increase of 43.5% from 501.9 million yuan in the year-earlier period.

The normalized profit margin increased to 14.4% from 12.8% in the year-earlier period.

Total revenue climbed 27.9% year over year to 4.99 billion yuan from 3.91 billion yuan, and total operating expenses climbed 34.5% on an annual basis to 4.24 billion yuan from 3.15 billion yuan.

Reported net income rose 43.9% on an annual basis to 939.4 million yuan, or 7 fen per share, from 652.7 million yuan, or 5 fen per share.

As of Oct. 27, US$1 was equivalent to 6.65 yuan.