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Guangdong Jialong Food Q2 profit climbs 32.8% YOY

Guangdong Jialong Food Co. Ltd. said its normalized net income for the second quarter was 2 fen per share, a gain of 32.9% from 1 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 17.0 million yuan, a gain of 32.8% from 12.8 million yuan in the year-earlier period.

The normalized profit margin rose to 13.1% from 11.6% in the year-earlier period.

Total revenue grew 10.5% on an annual basis to 121.5 million yuan from 110.0 million yuan, and total operating expenses climbed 6.4% on an annual basis to 97.7 million yuan from 91.9 million yuan.

Reported net income increased 24.7% on an annual basis to 20.2 million yuan, or 2 fen per share, from 16.2 million yuan, or 2 fen per share.

As of Aug. 18, US$1 was equivalent to 6.39 yuan.