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Zhejiang Meili High Technology Q3 profit climbs 29.0% YOY

Zhejiang Meili High Technology Co. Ltd. said its third-quarter normalized net income amounted to 7 fen per share, an increase of 22.9% from 6 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.3 million yuan, an increase of 29.0% from 7.2 million yuan in the prior-year period.

The normalized profit margin climbed to 12.3% from 10.8% in the year-earlier period.

Total revenue increased 16.2% year over year to 77.3 million yuan from 66.6 million yuan, and total operating expenses climbed 10.4% on an annual basis to 62.7 million yuan from 56.8 million yuan.

Reported net income grew 35.7% year over year to 12.4 million yuan, or 9 fen per share, from 9.1 million yuan, or 7 fen per share.

As of Jan. 24, US$1 was equivalent to 6.86 yuan.