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Fiyta Holdings Q2 profit climbs 8.8% YOY

Fiyta Holdings Ltd. said its normalized net income for the second quarter was 6 fen per share, a decline from 6 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 25.9 million yuan, a gain of 8.8% from 23.8 million yuan in the year-earlier period.

The normalized profit margin rose to 3.5% from 3.0% in the year-earlier period.

Total revenue decreased 5.5% on an annual basis to 746.6 million yuan from 789.7 million yuan, and total operating expenses decreased 5.3% year over year to 688.7 million yuan from 727.6 million yuan.

Reported net income grew 18.2% from the prior-year period to 33.3 million yuan, or 8 fen per share, from 28.1 million yuan, or 7 fen per share.

As of Aug. 25, US$1 was equivalent to 6.66 yuan.