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Beibu Gulf Tourism Q2 profit falls YOY

Beibu Gulf Tourism Corp. Ltd. said its second-quarter normalized net income amounted to 8 fen per share, a decline of 25.3% from 11 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 18.2 million yuan, a decline of 26.1% from 24.6 million yuan in the year-earlier period.

The normalized profit margin fell to 17.5% from 24.0% in the year-earlier period.

Total revenue rose year over year to 105.6 million yuan from 102.8 million yuan, and total operating expenses increased 22.9% from the prior-year period to 76.4 million yuan from 62.2 million yuan.

Reported net income fell 27.3% from the prior-year period to 24.2 million yuan, or 11 fen per share, from 33.3 million yuan, or 15 fen per share.

As of Aug. 19, US$1 was equivalent to 6.65 yuan.