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Tianyun International H2 profit climbs YOY

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Tianyun International H2 profit climbs YOY

Tianyun International Holdings Ltd said its normalized net income for the second half came to 6 fen per share, an increase of 5.6% from 6 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 57.8 million yuan, an increase of 4.9% from 55.1 million yuan in the prior-year period.

Total revenue grew 16.3% year over year to 402.3 million yuan from 345.9 million yuan, and total operating expenses grew 19.1% year over year to 306.4 million yuan from 257.3 million yuan.

Reported net income rose 5.4% year over year to 70.8 million yuan, or 7 fen per share, from 67.2 million yuan, or 7 fen per share.

For the year, the company's normalized net income totaled 10 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 13 fen.

EPS declined from 11 fen in the prior year.

Normalized net income was 100.3 million yuan, a decline from 105.4 million yuan in the prior year.

Full-year total revenue grew 14.1% on an annual basis to 745.5 million yuan from 653.5 million yuan, and total operating expenses grew 20.4% on an annual basis to 581.4 million yuan from 482.8 million yuan.

The company said reported net income fell on an annual basis to 123.1 million yuan, or 13 fen per share, in the full year, from 128.8 million yuan, or 13 fen per share.

As of April 13, US$1 was equivalent to 6.27 yuan.