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NVC Lighting Holding H2 profit climbs 61.3% YOY

NVC Lighting Holding Ltd. said its normalized net income for the second half amounted to 2 fen per share, an increase of 59.4% from 2 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 78.2 million yuan, an increase of 61.3% from 48.5 million yuan in the prior-year period.

Total revenue fell year over year to 2.04 billion yuan from 2.07 billion yuan, and total operating expenses fell year over year to 1.90 billion yuan from 1.95 billion yuan.

Reported net income increased 77.8% from the prior-year period to 68.8 million yuan, or 2 fen per share, from 38.7 million yuan, or 1 fen per share.

For the year, the company's normalized net income totaled 5 fen per share, a gain from 2 fen per share in the prior year.

Normalized net income was 145.3 million yuan, a gain from 58.4 million yuan in the prior year.

Full-year total revenue decreased year over year to 3.81 billion yuan from 3.85 billion yuan, and total operating expenses declined on an annual basis to 3.56 billion yuan from 3.69 billion yuan.

The company said reported net income rose on an annual basis to 150.9 million yuan, or 5 fen per share, in the full year, from 55.8 million yuan, or 2 fen per share.

As of April 26, US$1 was equivalent to 6.89 yuan.