Sanonda net profit fell 86.1% YoY in the first three quarters of 2016
Date:12-02-2016
By Think Real - On 27th October, 2016, Hubei Sanonda Co., Ltd. (Sanonda) released the third-quarter report in 2016. In the first three quarters, Sanonda achieved operating income of USD213.1 million, down by 19.8% year on year while the net margin for shareholders of the listed company was USD3.0 million, down by 86.1% compared to the same period of last year.
In the third quarter alone, Sanonda achieved operating income of USD63.9 million with net profit of USD0.55 million.
According to the company, the reason that the net margin for shareholders of the listed company fell 86.1% year on year mainly lay in the decline of sales revenue and gross margin .
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