Tingyi Posts Rise In Q3 Profit

Tingyi Cayman Islands Holding

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.