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Tibet Tourism Q2 loss narrows YOY

Tibet Tourism Co. Ltd. said its second-quarter normalized net income was a loss of 5 fen per share, compared with a loss of 5 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 a loss of 8.8 million yuan, compared with a loss of 9.4 million yuan in the year-earlier period.

The normalized profit margin rose to negative 14.3% from negative 24.0% in the year-earlier period.

Total revenue grew 14.7% on an annual basis to 44.9 million yuan from 39.2 million yuan, and total operating expenses grew 13.6% year over year to 54.5 million yuan from 48.0 million yuan.

Reported net income totaled a loss of 10.3 million yuan, or a loss of 5 fen per share, compared to a loss of 14.8 million yuan, or a loss of 8 fen per share, in the prior-year period.

As of Aug. 30, US$1 was equivalent to 6.67 yuan.