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Jardine Cycle & Carriage Q3 profit climbs 9.1% YOY

Jardine Cycle & Carriage Ltd. said its third-quarter normalized net income amounted to 26 cents per share, an increase of 8.6% from 24 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $105.1 million, an increase of 9.1% from $96.3 million in the year-earlier period.

The normalized profit margin declined to 2.4% from 2.5% in the year-earlier period.

Total revenue increased 13.1% on an annual basis to $4.44 billion from $3.93 billion, and total operating expenses rose 12.5% on an annual basis to $3.99 billion from $3.55 billion.

Reported net income rose 13.4% on an annual basis to $211.1 million, or 53 cents per share, from $186.2 million, or 47 cents per share.