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Zhejiang Youpon Integrated Ceiling Q3 profit falls YOY

Zhejiang Youpon Integrated Ceiling Co. Ltd. said its normalized net income for the third quarter was 22 fen per share, a decline of 4.9% from 23 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 19.2 million yuan, compared with 19.4 million yuan in the year-earlier period.

The normalized profit margin declined to 18.0% from 18.9% in the year-earlier period.

Total revenue grew on an annual basis to 106.9 million yuan from 102.7 million yuan, and total operating expenses increased 11.0% year over year to 80.6 million yuan from 72.6 million yuan.

Reported net income decreased from the prior-year period to 26.2 million yuan, or 30 fen per share, from 26.7 million yuan, or 32 fen per share.

As of Oct. 21, US$1 was equivalent to 6.77 yuan.