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Hailiang Education fiscal Q2 profit climbs YOY

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Hailiang Education fiscal Q2 profit climbs YOY

Hailiang Education Group Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 1.78 yuan per share, a gain from 1.73 yuan per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 40.7 million yuan, a gain from 39.4 million yuan in the year-earlier period.

The normalized profit margin dropped to 26.5% from 27.9% in the year-earlier period.

Total revenue climbed 8.7% year over year to 153.4 million yuan from 141.2 million yuan, and total operating expenses climbed on an annual basis to 90.6 million yuan from 86.7 million yuan.

Reported net income increased year over year to 65.1 million yuan, or 2.85 yuan per share, from 63.0 million yuan, or 2.76 yuan per share.

As of April 3, US$1 was equivalent to 6.13 yuan.