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Maoye International H1 profit falls YOY

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Maoye International H1 profit falls YOY

Maoye International Holdings Ltd said its normalized net income for the first half came to 2 fen per share, a decrease of 58.9% from 4 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 89.9 million yuan, a decline of 59.3% from 220.9 million yuan in the year-earlier period.

Total revenue increased 10.6% year over year to 2.27 billion yuan from 2.05 billion yuan, and total operating expenses climbed 12.4% on an annual basis to 1.78 billion yuan from 1.58 billion yuan.

Reported net income decreased 94.2% from the prior-year period to 18.4 million yuan, or 0 fen per share, from 316.7 million yuan, or 6 fen per share.

As of Sept. 14, US$1 was equivalent to 6.68 yuan.