LONDON, ONTARIO--(Marketwired - Nov. 30, 2015) - Mr. George Lunick CEO of Pearl River Holdings Ltd. ("Pearl River") (TSX VENTURE:PRH) reports on its financial results for the 9 months ended September 30, 2015.
Revenue for the 9 months ended September 30, 2015 was $178,392,453 RMB down 7.4% from the comparative prior period with earnings before income tax and minority interest of $7,609,151 RMB approximately the same as in the comparative prior period.
Gross profit for the year was 23.46% compared to 20.3 % in the prior 9 months. Expenses for the year were 19.2% up from 16.3 % in the comparative prior period.
The following table provides highlights for the year with prior year comparisons.
| Financial Highlights |
| |
| Operational |
|
9 Months ended |
|
9 Months ended |
|
9 Months ended |
| |
|
Sept. 30, 2015 |
|
Sept. 30, 2015 |
|
Sept. 30, 2014 |
| |
|
CDN |
|
RMB |
|
RMB |
| 1. Revenue |
|
36,260,050 |
|
178,392,455 |
|
191,874,683 |
| 2. Gross Profit |
|
8,508,089 |
|
41,858,159 |
|
38,823,033 |
| 3. Net Income before Income Tax and Minority Interest |
|
1,546,636 |
|
7,609,151 |
|
7,615,202 |
| |
|
|
|
|
|
|
| Key Balance sheet items per share are as follows: |
| |
|
|
|
|
|
|
| |
|
CDN |
|
RMB |
|
RMB |
| 4. Cash and cash equivalents per share |
|
0.099 |
|
0.469 |
|
0.34 |
| 5. Equity attributable to common shareholders per share |
|
0.442 |
|
2.092 |
|
1.78 |
Mr. Lunick said: "We are enthused about the profitability this year, gross profits were higher as a percentage of sales reflecting the effect of the new facility efficiencies. We continue to push for new revenue and additional profitability."
About Pearl River
Pearl River Holding, through its subsidiary, the principal business is the manufacturing and distribution of plastic products in China, Australia and the United States of America.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.