Guangzhou Zhujiang Brewery Co. Ltd. said its third-quarter normalized net income was 6 fen per share, a gain of 46.8% 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 39.4 million yuan, a gain of 46.6% from 26.9 million yuan in the year-earlier period.

The normalized profit margin climbed to 3.1% from 2.4% in the year-earlier period.

Total revenue rose 12.2% on an annual basis to 1.27 billion yuan from 1.13 billion yuan, and total operating expenses climbed 10.7% from the prior-year period to 1.22 billion yuan from 1.10 billion yuan.

Reported net income increased 42.5% year over year to 51.6 million yuan, or 8 fen per share, from 36.2 million yuan, or 5 fen per share.

As of Oct. 20, US$1 was equivalent to 6.75 yuan.