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Dukang Distillers fiscal Q2 profit falls YOY

Dukang Distillers Holdings Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 2 fen per share, a decrease of 77.2% from 10 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 1.9 million yuan, a decrease of 77.2% from 8.3 million yuan in the prior-year period.

The normalized profit margin dropped to 0.8% from 2.1% in the year-earlier period.

Total revenue fell 42.5% on an annual basis to 231.6 million yuan from 402.8 million yuan, and total operating expenses fell 41.4% year over year to 227.9 million yuan from 388.7 million yuan.

Reported net income fell 62.7% year over year to 3.7 million yuan, or 5 fen per share, from 10.0 million yuan, or 13 fen per share.

As of Feb. 10, US$1 was equivalent to 6.24 yuan.