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Metersbonwe Q2 loss widens 19.7% YOY

Shanghai Metersbonwe Fashion & Accessories Co. Ltd. said its second-quarter normalized net income came to a loss of 5 fen per share, compared with a loss of 9 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 a loss of 129.3 million yuan, compared with a loss of 108.1 million yuan in the prior-year period.

The normalized profit margin declined to negative 10.9% from negative 10.6% in the year-earlier period.

Total revenue rose 12.7% year over year to 1.15 billion yuan from 1.02 billion yuan, and total operating expenses rose 14.3% on an annual basis to 1.33 billion yuan from 1.17 billion yuan.

Reported net income came to a loss of 101.6 million yuan, or a loss of 5 fen per share, compared to a loss of 139.3 million yuan, or a loss of 12 fen per share, in the year-earlier period.

As of Aug. 29, US$1 was equivalent to 6.68 yuan.