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Shanghai Jin Jiang International Hotels Q3 profit climbs 24.6% YOY

Shanghai Jin Jiang International Hotels Development Co. Ltd. said its normalized net income for the third quarter amounted to 22 fen per share, a gain of 19.6% from 19 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 185.8 million yuan, a gain of 24.6% from 149.1 million yuan in the year-earlier period.

The normalized profit margin dropped to 5.9% from 9.2% in the year-earlier period.

Total revenue climbed 95.9% year over year to 3.18 billion yuan from 1.62 billion yuan, and total operating expenses increased year over year to 2.82 billion yuan from 1.37 billion yuan.

Reported net income grew 19.8% on an annual basis to 206.5 million yuan, or 25 fen per share, from 172.3 million yuan, or 21 fen per share.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.