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China CIFCO Investment Q2 profit climbs 41.0% YOY

China CIFCO Investment Co. Ltd. said its second-quarter normalized net income was 1 fen per share, an increase of 40.5% from 1 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 5.0 million yuan, an increase of 41.0% from 3.6 million yuan in the year-earlier period.

The normalized profit margin declined to 20.4% from 25.8% in the year-earlier period.

Total revenue rose 75.6% year over year to 24.3 million yuan from 13.9 million yuan, and total operating expenses rose 57.8% year over year to 27.0 million yuan from 17.1 million yuan.

Reported net income increased 38.7% from the prior-year period to 8.0 million yuan, or 2 fen per share, from 5.7 million yuan, or 2 fen per share.

As of Aug. 29, US$1 was equivalent to 6.68 yuan.