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Xiabu Xiabu H1 profit climbs 20.4% YOY

XiabuXiabu Catering Management (China) Holdings Co. Ltd. said its first-half normalized net income was 10 fen per share, an increase of 20.3% from 8 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 108.2 million yuan, a gain of 20.4% from 89.9 million yuan in the prior-year period.

Total revenue grew 12.7% on an annual basis to 1.26 billion yuan from 1.12 billion yuan, and total operating expenses rose 11.5% on an annual basis to 1.11 billion yuan from 996.2 million yuan.

Reported net income rose 18.6% year over year to 139.4 million yuan, or 13 fen per share, from 117.6 million yuan, or 11 fen per share.

As of Sept. 28, US$1 was equivalent to 6.68 yuan.