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Inner Mongolia Yili Q3 profit climbs 19.6% YOY

Inner Mongolia Yili Industrial Group Co. Ltd. said its third-quarter normalized net income was 18 fen per share, an increase of 22.6% from 14 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 1.07 billion yuan, an increase of 19.6% from 896.7 million yuan in the year-earlier period.

The normalized profit margin increased to 5.7% from 5.6% in the year-earlier period.

Total revenue grew 18.0% on an annual basis to 18.98 billion yuan from 16.08 billion yuan, and total operating expenses increased 16.1% on an annual basis to 17.25 billion yuan from 14.86 billion yuan.

Reported net income increased 33.5% on an annual basis to 1.57 billion yuan, or 26 fen per share, from 1.18 billion yuan, or 19 fen per share.

As of Oct. 30, US$1 was equivalent to 6.65 yuan.