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Toly Bread Q3 profit climbs 21.2% YOY

Toly Bread Co. Ltd. said its normalized net income for the third quarter amounted to 23 fen per share, an increase of 7.8% from 21 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 104.7 million yuan, a gain of 21.2% from 86.4 million yuan in the year-earlier period.

The normalized profit margin rose to 12.3% from 12.2% in the year-earlier period.

Total revenue rose 29.6% year over year to 917.5 million yuan from 708.1 million yuan, and total operating expenses rose 31.5% on an annual basis to 751.1 million yuan from 571.2 million yuan.

Reported net income rose 29.8% year over year to 135.9 million yuan, or 30 fen per share, from 104.7 million yuan, or 26 fen per share.

As of Oct. 26, US$1 was equivalent to 6.77 yuan.