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Wuliangye Yibin Q3 profit climbs 95.1% YOY

Wuliangye Yibin Co. Ltd. said its third-quarter normalized net income was 28 fen per share, a gain of 95.0% from 14 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.05 billion yuan, an increase of 95.1% from 539.1 million yuan in the prior-year period.

The normalized profit margin increased to 26.9% from 15.8% in the year-earlier period.

Total revenue increased 15.0% on an annual basis to 3.92 billion yuan from 3.41 billion yuan, and total operating expenses declined 11.0% year over year to 2.36 billion yuan from 2.66 billion yuan.

Reported net income rose 85.1% year over year to 1.31 billion yuan, or 34 fen per share, from 705.5 million yuan, or 19 fen per share.

As of Oct. 29, US$1 was equivalent to 6.36 yuan.