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Rainbow Department Store Q2 profit climbs 46.7% YOY

Rainbow Department Store Co. Ltd. said its second-quarter normalized net income came to 11 fen per share, an increase of 53.6% 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 87.3 million yuan, a gain of 46.7% from 59.5 million yuan in the year-earlier period.

The normalized profit margin rose to 2.4% from 1.5% in the year-earlier period.

Total revenue fell year over year to 3.89 billion yuan from 4.04 billion yuan, and total operating expenses fell on an annual basis to 3.77 billion yuan from 3.92 billion yuan.

Reported net income increased 97.2% from the prior-year period to 101.7 million yuan, or 13 fen per share, from 51.6 million yuan, or 6 fen per share.

As of Aug. 25, US$1 was equivalent to 6.66 yuan.