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NBTM New Materials Q2 profit climbs 17.0% YOY

NBTM New Materials Group Co. Ltd. said its normalized net income for the second quarter amounted to 8 fen per share, an increase of 17.9% from 7 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 31.7 million yuan, an increase of 17.0% from 27.1 million yuan in the year-earlier period.

The normalized profit margin rose to 10.5% from 8.8% in the year-earlier period.

Total revenue climbed 13.3% on an annual basis to 348.1 million yuan from 307.2 million yuan, and total operating expenses rose 10.6% year over year to 285.5 million yuan from 258.0 million yuan.

Reported net income rose 51.2% from the prior-year period to 57.4 million yuan, or 15 fen per share, from 38.0 million yuan, or 10 fen per share.

As of July 13, US$1 was equivalent to 6.21 yuan.