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Beijing Sanyuan Foods swings to profit in Q3

Beijing Sanyuan Foods Co. Ltd. said its third-quarter normalized net income was 10.3 million yuan, compared with a loss of 6.4 million yuan in the prior-year period.

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

The normalized profit margin climbed to 1.4% from negative 0.6% in the year-earlier period.

Total revenue rose 4.9% year over year to 1.19 billion yuan from 1.13 billion yuan, and total operating expenses increased from the prior-year period to 1.22 billion yuan from 1.17 billion yuan.

Reported net income totaled 17.8 million yuan, or 1 fen per share, compared to a loss of 10.5 million yuan, or a loss of 1 fen per share, in the year-earlier period.

As of Oct. 25, US$1 was equivalent to 6.78 yuan.