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Zhejiang Jingu Q2 profit climbs 18.6% YOY

Zhejiang Jingu Co. Ltd. said its normalized net income for the second quarter was 5 fen per share, a decline of 7.5% from 5 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 24.3 million yuan, an increase of 18.6% from 20.5 million yuan in the prior-year period.

The normalized profit margin rose to 6.2% from 5.8% in the year-earlier period.

Total revenue rose 15.8% on an annual basis to 410.4 million yuan from 354.4 million yuan, and total operating expenses increased 16.9% on an annual basis to 352.8 million yuan from 301.8 million yuan.

Reported net income grew 12.2% year over year to 31.1 million yuan, or 6 fen per share, from 27.7 million yuan, or 7 fen per share.

As of Aug. 6, US$1 was equivalent to 6.21 yuan.