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Jiangnan Mould & Plastic Technology Q3 profit climbs 19.7% YOY

Jiangnan Mould & Plastic Technology Co. Ltd. said its normalized net income for the third quarter came to 6 fen per share, a gain of 25.5% from 5 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 43.0 million yuan, an increase of 19.7% from 36.0 million yuan in the year-earlier period.

The normalized profit margin climbed to 5.3% from 5.0% in the year-earlier period.

Total revenue increased 12.0% year over year to 813.1 million yuan from 726.0 million yuan, and total operating expenses grew 18.0% on an annual basis to 791.3 million yuan from 670.5 million yuan.

Reported net income rose 17.1% on an annual basis to 52.5 million yuan, or 7 fen per share, from 44.8 million yuan, or 6 fen per share.

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