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China Candy Q3 profit falls YOY

China Candy Holdings Ltd. said its third-quarter normalized net income came to 1.0 million yuan, a decline of 72.8% from 3.8 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 5.3% from 18.1% in the year-earlier period.

Total revenue fell 7.6% on an annual basis to 19.2 million yuan from 20.8 million yuan, and total operating expenses climbed from the prior-year period to 16.9 million yuan from 16.3 million yuan.

Reported net income fell 78.5% on an annual basis to 949,000 yuan, or 0 fen per share, from 4.4 million yuan, or 0 fen per share.

As of Nov. 2, US$1 was equivalent to 6.75 yuan.