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Shenzhen Tellus Holding Q3 profit falls YOY

Shenzhen Tellus Holding Co. Ltd. said its normalized net income for the third quarter was 2 fen per share, a decrease of 28.3% from 3 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 5.8 million yuan, a decline of 28.3% from 8.0 million yuan in the year-earlier period.

The normalized profit margin dropped to 6.9% from 11.0% in the year-earlier period.

Total revenue climbed 14.0% on an annual basis to 83.6 million yuan from 73.3 million yuan, and total operating expenses climbed 23.3% on an annual basis to 76.3 million yuan from 61.9 million yuan.

Reported net income declined 23.3% year over year to 8.5 million yuan, or 3 fen per share, from 11.0 million yuan, or 4 fen per share.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.