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Sanjiang Shopping Club Q3 profit climbs 57.1% YOY

Sanjiang Shopping Club Co. Ltd. said its normalized net income for the third quarter amounted to 4 fen per share, an increase of 57.4% from 3 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 18.1 million yuan, an increase of 57.1% from 11.5 million yuan in the prior-year period.

The normalized profit margin climbed to 2.4% from 1.1% in the year-earlier period.

Total revenue fell 6.4% on an annual basis to 1.01 billion yuan from 1.08 billion yuan, and total operating expenses decreased 8.2% year over year to 983.9 million yuan from 1.07 billion yuan.

Reported net income rose on an annual basis to 26.4 million yuan, or 6 fen per share, from 12.5 million yuan, or 3 fen per share.

As of Oct. 18, US$1 was equivalent to 6.74 yuan.