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Xtep International H1 profit climbs 10.4% YOY

Xtep International Holdings Ltd. said its normalized net income for the first half amounted to 15 fen per share, a gain of 8.2% from 14 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 336.5 million yuan, an increase of 10.4% from 304.7 million yuan in the year-earlier period.

Total revenue climbed 6.0% year over year to 2.53 billion yuan from 2.39 billion yuan, and total operating expenses increased from the prior-year period to 1.97 billion yuan from 1.95 billion yuan.

Reported net income grew 10.7% from the prior-year period to 380.1 million yuan, or 17 fen per share, from 343.5 million yuan, or 16 fen per share.

As of Aug. 22, US$1 was equivalent to 6.64 yuan.