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Leo Group Q2 profit climbs YOY

Leo Group Co. Ltd. said its normalized net income for the second quarter came to 2 fen per share, an increase of 21.6% from 2 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 101.7 million yuan, an increase from 47.8 million yuan in the prior-year period.

The normalized profit margin rose to 6.3% from 4.3% in the year-earlier period.

Total revenue climbed 51.3% on an annual basis to 1.68 billion yuan from 1.11 billion yuan, and total operating expenses increased 47.0% year over year to 1.50 billion yuan from 1.02 billion yuan.

Reported net income increased 74.4% from the prior-year period to 139.0 million yuan, or 3 fen per share, from 79.7 million yuan, or 3 fen per share.

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