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C&S Paper Q3 profit climbs YOY

C&S Paper Co. Ltd. said its third-quarter normalized net income amounted to 8 fen per share, a gain from 4 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 64.2 million yuan, a gain from 26.7 million yuan in the year-earlier period.

The normalized profit margin climbed to 6.6% from 3.5% in the year-earlier period.

Total revenue grew 26.2% on an annual basis to 969.4 million yuan from 767.9 million yuan, and total operating expenses rose 21.2% on an annual basis to 856.5 million yuan from 706.4 million yuan.

Reported net income rose on an annual basis to 75.3 million yuan, or 10 fen per share, from 20.3 million yuan, or 3 fen per share.

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