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Guangdong Songfa Q2 profit climbs 10.1% YOY

Guangdong Songfa Ceramics Co.Ltd. said its normalized net income for the second quarter amounted to 5 fen per share, an increase of 5.2% from 5 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 4.8 million yuan, an increase of 10.1% from 4.3 million yuan in the year-earlier period.

The normalized profit margin climbed to 7.1% from 6.3% in the year-earlier period.

Total revenue increased 14.0% year over year to 78.3 million yuan from 68.7 million yuan, and total operating expenses grew 16.9% year over year to 71.7 million yuan from 61.3 million yuan.

Reported net income rose year over year to 7.2 million yuan, or 8 fen per share, from 7.1 million yuan, or 8 fen per share.

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