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Dukang Distillers fiscal Q3 profit falls YOY

Dukang Distillers Holdings Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to 1 fen per share, a decline of 81.1% from 8 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 1.2 million yuan, a decrease of 81.1% from 6.2 million yuan in the year-earlier period.

The normalized profit margin fell to 0.5% from 1.8% in the year-earlier period.

Total revenue declined 28.9% on an annual basis to 250.3 million yuan from 352.2 million yuan, and total operating expenses decreased 27.3% year over year to 247.9 million yuan from 341.1 million yuan.

Reported net income declined 76.2% year over year to 1.8 million yuan, or 2 fen per share, from 7.5 million yuan, or 9 fen per share.

As of May 14, US$1 was equivalent to 6.20 yuan.