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Yifeng Pharmacy Chain Q2 profit climbs 22.2% YOY

Yifeng Pharmacy Chain Co. Ltd. said its second-quarter normalized net income was 14 fen per share, a gain of 15.6% from 12 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 46.1 million yuan, an increase of 22.2% from 37.8 million yuan in the prior-year period.

The normalized profit margin declined to 5.2% from 5.7% in the year-earlier period.

Total revenue increased 40.1% year over year to 929.1 million yuan from 663.3 million yuan, and total operating expenses increased 39.9% on an annual basis to 855.3 million yuan from 611.3 million yuan.

Reported net income rose 28.0% on an annual basis to 59.8 million yuan, or 19 fen per share, from 46.8 million yuan, or 15 fen per share.

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