Tingyi Posts Rise In Q3 Profit
Tingyi Cayman Islands Holding (OTC: TCYMY) posted a rise in its profit in the third quarter.
Tingyi's quarterly net profit climbed 19.4% to $155.9 million, versus analysts' estimates of $162 million. Its revenue climbed 33.6% to $2.95 billion.
Sales of drinks jumped 57% to $1.82 billion, while sales of instant noodles climbed 7.2% to $1.04 billion.
Tingyi's gross profit margin increased to 31.32% in the quarter.
Tingyi shares gained 0.25% to close at $60.15 on Friday.
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