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Beijing Jingxi Culture & Tourism Q2 profit falls YOY

Beijing Jingxi Culture and Tourism Co. Ltd. said its second-quarter normalized net income amounted to 6.9 million yuan, a decrease of 18.3% from 8.4 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 6.7% from 19.4% in the year-earlier period.

Total revenue increased year over year to 111.2 million yuan from 43.3 million yuan, and total operating expenses climbed year over year to 107.9 million yuan from 38.5 million yuan.

Reported net income grew year over year to 35.2 million yuan, or 5 fen per share, from 5.2 million yuan, or 1 fen per share.

As of Aug. 1, US$1 was equivalent to 6.64 yuan.