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Shandong Longda Meat Foodstuff Q2 profit climbs 82.7% YOY

Shandong Longda Meat Foodstuff Co. Ltd. said its second-quarter normalized net income amounted to 8.9 million yuan, a rise of 82.7% from 4.9 million yuan in the year-earlier period.

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

The normalized profit margin increased to 1.1% from 0.5% in the year-earlier period.

Total revenue grew year over year to 979.7 million yuan from 934.8 million yuan, and total operating expenses rose year over year to 968.4 million yuan from 923.3 million yuan.

Reported net income rose 32.4% from the prior-year period to 16.5 million yuan, or 2 fen per share, from 12.5 million yuan, or 2 fen per share.

As of Aug. 17, US$1 was equivalent to 6.40 yuan.