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Guangdong Homa Appliances Q2 profit climbs 19.4% YOY

Guangdong Homa Appliances Co. Ltd. said its second-quarter normalized net income was 14 fen per share, a gain of 22.0% from 12 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 66.1 million yuan, a gain of 19.4% from 55.4 million yuan in the year-earlier period.

The normalized profit margin increased to 3.7% from 3.6% in the year-earlier period.

Total revenue rose 14.8% year over year to 1.76 billion yuan from 1.53 billion yuan, and total operating expenses grew 16.5% on an annual basis to 1.68 billion yuan from 1.44 billion yuan.

Reported net income increased 31.5% on an annual basis to 102.7 million yuan, or 22 fen per share, from 78.1 million yuan, or 17 fen per share.

As of Aug. 19, US$1 was equivalent to 6.40 yuan.