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Petpal Pet Nutrition Technology H1 profit climbs 67.7% YOY

Petpal Pet Nutrition Technology Co. Ltd. said its normalized net income for the first half amounted to 24 fen per share, a gain of 68.6% from 14 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 14.0 million yuan, an increase of 67.7% from 8.4 million yuan in the year-earlier period.

Total revenue climbed 15.8% on an annual basis to 202.4 million yuan from 174.9 million yuan, and total operating expenses climbed 11.5% on an annual basis to 180.7 million yuan from 162.1 million yuan.

Reported net income grew 72.7% on an annual basis to 19.3 million yuan, or 33 fen per share, from 11.1 million yuan, or 19 fen per share.

As of Aug. 20, US$1 was equivalent to 6.39 yuan.