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Zhejiang Century Huatong Q2 profit climbs YOY

Zhejiang Century Huatong Group Co.Ltd said its second-quarter normalized net income came to 6 fen per share, a gain from 1 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 62.2 million yuan, an increase from 23.5 million yuan in the prior-year period.

The normalized profit margin climbed to 8.4% from 5.8% in the year-earlier period.

Total revenue climbed 88.5% year over year to 758.3 million yuan from 402.3 million yuan, and total operating expenses increased 82.1% year over year to 657.1 million yuan from 360.9 million yuan.

Reported net income increased year over year to 89.6 million yuan, or 8 fen per share, from 31.3 million yuan, or 2 fen per share.

As of Aug. 11, US$1 was equivalent to 6.32 yuan.