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Jiangsu Yanghe Brewery Q3 profit climbs 16.5% YOY

Jiangsu Yanghe Brewery JSC Ltd. said its normalized net income for the third quarter came to 93 fen per share, a gain of 16.3% from 80 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 1.40 billion yuan, an increase of 16.5% from 1.20 billion yuan in the year-earlier period.

The normalized profit margin declined to 26.2% from 26.9% in the year-earlier period.

Total revenue increased 19.5% year over year to 5.35 billion yuan from 4.47 billion yuan, and total operating expenses rose 20.3% year over year to 3.23 billion yuan from 2.69 billion yuan.

Reported net income increased 18.2% on an annual basis to 1.67 billion yuan, or 1.11 yuan per share, from 1.42 billion yuan, or 94 fen per share.

As of Oct. 27, US$1 was equivalent to 6.65 yuan.