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Sichuan Tuopai Shede Spirits Q2 profit climbs YOY

Sichuan Tuopai Shede Spirits Co. Ltd. said its normalized net income for the second quarter came to 2.6 million yuan, an increase from 430,180 yuan in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 1.0% from 0.1% in the year-earlier period.

Total revenue decreased 18.3% year over year to 312.1 million yuan from 382.1 million yuan, and total operating expenses decreased 18.4% year over year to 305.0 million yuan from 373.6 million yuan.

Reported net income decreased from the prior-year period to 2.4 million yuan, or 1 fen per share, from 2.4 million yuan, or 1 fen per share.

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