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Liaoning Wellhope Agri-Tech Q2 profit falls YOY

Liaoning Wellhope Agri-Tech JSC Ltd. said its normalized net income for the second quarter came to 5 fen per share, a decline of 25.0% from 7 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 45.5 million yuan, a decrease from 46.4 million yuan in the year-earlier period.

The normalized profit margin dropped to 2.1% from 2.2% in the year-earlier period.

Total revenue rose 8.3% year over year to 2.30 billion yuan from 2.13 billion yuan, and total operating expenses increased 8.2% on an annual basis to 2.21 billion yuan from 2.05 billion yuan.

Reported net income rose on an annual basis to 69.9 million yuan, or 8 fen per share, from 69.1 million yuan, or 10 fen per share.

As of Aug. 11, US$1 was equivalent to 6.32 yuan.