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China Fordoo H1 profit climbs YOY

China Fordoo Holdings Ltd said its first-half normalized net income was 26 fen per share, a decrease of 22.4% from 33 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 122.4 million yuan, an increase from 118.4 million yuan in the prior-year period.

Total revenue increased 8.1% on an annual basis to 828.4 million yuan from 766.2 million yuan, and total operating expenses rose 10.2% from the prior-year period to 624.1 million yuan from 566.3 million yuan.

Reported net income grew 6.4% on an annual basis to 136.9 million yuan, or 29 fen per share, from 128.7 million yuan, or 36 fen per share.

As of Aug. 18, US$1 was equivalent to 6.39 yuan.