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Wuhan Department Store Q3 profit climbs 47.9% YOY

Wuhan Department Store Group Co. Ltd. said its third-quarter normalized net income came to 21 fen per share, a gain of 30.6% from 16 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 160.1 million yuan, an increase of 47.9% from 108.2 million yuan in the prior-year period.

The normalized profit margin rose to 4.1% from 2.8% in the year-earlier period.

Total revenue rose year over year to 3.94 billion yuan from 3.89 billion yuan, and total operating expenses totaled 3.68 billion yuan, compared with 3.70 billion yuan in the year-earlier period.

Reported net income increased 62.4% on an annual basis to 190.7 million yuan, or 25 fen per share, from 117.4 million yuan, or 18 fen per share.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.