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Sichuan Changhong Q3 net profit down 48%

(Agencies)
Updated: 2008-10-31 14:22

Sichuan Changhong Electric Co Ltd, China's top TV manufacturer, said third quarter net profit fell 47.89 percent year-on-year to 74.55 million yuan ($10.91 million) after a sharp decline in investment income.

The company said in a financial report filed with Shanghai Stock Exchange that third quarter operating revenue was 7.227 billion yuan, up 38.26 percent from the previous year, while operating costs rose 32.86 percent to 7.056 billion yuan.

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Investment income in the third quarter fell to 8.96 million yuan from 261.68 million a year earlier.

The company also booked an asset impairment loss of 37.89 million yuan for the third quarter, comparing with a loss of 13.19 million a year earlier.

The company did not provide sales breakdowns for its products.

Earnings per share stood at 0.04 yuan, down from 0.08 a year earlier.

The company reported operating revenue of 21.466 billion yuan for the first nine months, a 34.58 increase from the previous year, while net profit was 93.99 million yuan, down 72.63 percent.

No forecast for the rest of the year was given.