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Beijing Sanyuan Foods Q2 profit climbs 26.1% YOY

Beijing Sanyuan Foods Co. Ltd. said its second-quarter normalized net income was 1 fen per share, an increase of 26.7% from 1 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 22.0 million yuan, an increase of 26.1% from 17.5 million yuan in the year-earlier period.

The normalized profit margin rose to 6.7% from 1.5% in the year-earlier period.

Total revenue climbed on an annual basis to 1.15 billion yuan from 1.13 billion yuan, and total operating expenses grew year over year to 1.17 billion yuan from 1.13 billion yuan.

Reported net income rose year over year to 136.5 million yuan, or 9 fen per share, from 43.5 million yuan, or 3 fen per share.

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