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Chinadive Watersports Q2 profit climbs 14.1% YOY

China Dive Co. Ltd. said its normalized net income for the second quarter amounted to 5 fen per share, an increase of 14.3% from 4 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 6.2 million yuan, a gain of 14.1% from 5.4 million yuan in the prior-year period.

The normalized profit margin fell to 6.1% from 6.1% in the year-earlier period.

Total revenue grew year over year to 91.0 million yuan from 88.2 million yuan, and total operating expenses came to 78.5 million yuan, compared with 78.0 million yuan in the prior-year period.

Reported net income increased 11.8% on an annual basis to 8.9 million yuan, or 7 fen per share, from 8.0 million yuan, or 6 fen per share.

As of Aug. 25, US$1 was equivalent to 6.66 yuan.